The physical iron ore market wound down further on Monday February 12 with participants more or less already in a holiday mood for the Chinese New Year break, which starts officially on Thursday in China.
Key driversChina's ferrous futures were rangebound during the day, while the spot steel market also reported little change in prices and trading activity.With most of mills' procurement staff already on holiday, sellers who had cargoes to offers can trouble finding takers for them during the day.Only a few transactions were reported at Chinese ports, with prices agreed at levels not too different from those of last Friday. The seaborne market was even quieter with few bids made on trading platforms in response to offers.March-loading Capesize shipments of Pilbara Blend fines were heard to...