Seaborne iron ore prices fell below $70 per tonne cfr China again on Friday March 16 with sentiment deteriorating amid declining futures.
Key drivers Doubts have emerged in the market over whether downstream demand for steel products had truly started to recover.China's major ports had 159.37 million tonnes of iron ore on Friday, up 742,000 tonnes from a week earlier. The increase was concentrated at ports in the Tangshan region where some production restrictions have been extended beyond the winter heating season.There were not many inquiries made for seaborne cargoes of 62% Fe Australian fines with prices for the steelmaking raw...