Seaborne iron ore prices sank on Tuesday as steelmaker costs came under pressure from rising domestic coking coal prices. Low Fe products, however, have been less affected as mills are turning to them to offset expected higher coal costs.
The Kallanish KORE 62% Fe index lost $2.91/t to $120.70/dry metric tonne cfr Qingdao. The Kallanish KORE 65% Fe index fell $2.69/t to $132.32/dmt cfr, but the KORE 58% Fe index gained $0.40/t to $112.28/dmt cfr. 170,000 tonnes of…
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