The seaborne iron ore market continued to slip on Tuesday January 30 amid a slight drop in the price of billet.
Key drivers The billet market weakened late in the day, with prices falling 10 yuan ($1.60) per tonne to 3,580 yuan per tonne. Not many inquiries for seaborne cargoes of iron ore were heard on Tuesday. Premiums for Pilbara Blend fines offered against the February average of a 62% Fe index have fallen to $1.20-1.30 per tonne - even for shipments with laycan set for early and mid-February - compared with $1.50-1.80 per tonne last week, according to...