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13 Jun

Iron ore falls as markets lose confidence

Seaborne iron ore prices were falling on Monday as Chinese steel futures dropped and sentiment remained weak. China’s Covid-19 outbreaks remain complicated, and end-user steel demand is not recovering as quickly as traders had hoped. The Kallanish KORE 62% Fe index fell $0.84/t to $141/dry metric tonne cfr Qingdao. The Kallanish KORE 65% Fe index declined $0.91/t to $162.12/dmt cfr, and the KORE 58% Fe index slipped $0.13/t to $133.96/dmt cfr. On the Dalian…
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