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21 Sep

Iron ore slumps, Fed pauses rate hikes

The seaborne iron ore market fell off a cliff on Thursday as futures plunged. The Kallanish KORE 62% Fe index and the KORE 65% Fe index each lost $4.51/t on Thursday to $119.96/dry metric tonne cfr Qingdao and $129.32/dmt cfr respectively. The KORE 58% Fe index meanwhile declined by $2.36/t to $106.95/dmt cfr. Two deals of 170,000t of PB fines were sold at floating prices with laycans in 6-15 November and 5-14 November. 85,000t of BRBF fines were booked at a…
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