The seaborne iron ore market continued to see thin trading with prices staying rangebound on Wednesday January 3 amid losses in China's steel and futures markets.
Key driversChina's benchmark steel and iron ore futures contracts posted a short-lived uptick in the morning before trending downward after that to end the day in negative territory.The weathervane billet price in Tangshan fell 50 yuan ($7.70) per tonne late in the afternoon to 3,680 yuan per tonne.Trading activity for seaborne iron ore was lackluster with traders yet to step up their procurement while mills continued to buy small amounts at Chinese ports.With prices at a relative high, it is not a good time...