The 62% Fe iron ore market trended lower in November, with prices falling 5.5% month on month, while the 65% price fell 1% from October.
Traded volumes in the 65% Fe derivatives contract on the Singapore Exchange, which is settled against Fastmarkets' daily 65% Fe iron ore index, were 2.27 million tonnes in November, the second-highest total since its launch in December 2018. Open interest on November 28 hit a record 3.18 million tonnes."Steel prices were sustained by good demand last month, which allows mills to buy high-grade iron ore products, including Carajas fines, lump, pellets and...