Trading activity in the seaborne iron ore market was slower in October than in the preceding few months, which dragged down the volumes of derivatives traded as well.
The October average of Fastmarkets' daily 65% Fe Brazil-origin iron ore index dropped by 2.6% month on month to $132.90 per tonne while that for the daily 62% Fe index fell by 2.7% to $120.20 per tonne.Since late September, rebar margins had been falling to break-even point or even into negative territory, but by the end of October, these improved to about 100 yuan ($14.90) per tonne as...