Seaborne iron ore prices softened on Monday March 5 amid a weakening of ferrous futures in China.
Key drivers The decline in the futures market weighed on the spot prices for both steel and iron ore. A number of traders lowered their offers to generate some buying interest. For instance, March-delivery cargoes of 61% Fe Pilbara Blend fines were offered at $75-75.25 per tonne cfr. There were also March-delivery Capesize cargoes of Pilbara Blend fines offered at the March...