Iron ore prices fell further on Wednesday March 7 with a cargo of seaborne materials changing hands below $75 per tonne cfr China.
Key driversChina's ferrous futures tumbled across the board during the day, with the benchmark contracts shedding 0.5-2.4% of their values compared with the settlement prices on Tuesday.The country's spot rebar and hot-rolled coil prices also fell 20-50 yuan ($3.20-7.90) per tonne.More seaborne iron ore offers were made on Wednesday, outnumbering bids, with buyers being discouraged by the continual price retreat over the past week or so, sources said.A miner's tender for Pilbara Blend fines, which was priced on a 61% Fe basis, was concluded at just...