Trading activity in the physical iron ore market died down on Friday March 2 amid retreating futures and steel prices in China.
Key driversIron ore futures fell by about 1% compared with its settlement price a day earlier, while spot rebar and hot-rolled coil prices also fell 20-30 yuan ($3.10-4.70) per tonne.Both the seaborne market and Chinese ports saw little trading activity during the day. Not many seaborne cargoes were offered and sought for on trading platforms. As for Chinese ports, offers as well as transaction prices are down, according...