Iron Ore Swaps Slide for 2nd Day Amid Late Rally

Platts reported that iron ore swaps continued to decline Tuesday on concerns about China’s weak economic growth amid late prompt contracts that support physical trade confirming prices were still above a recent range.

As quoted in the market news:

Activity was centered around May, June and time spreads along with Q3 paper and a Cal-14 reportedly done. A $3 or so sell-off in paper Monday continued earlier during the Asia day as opening offers were slashed before some price recovery later into the European morning.

Click here to read the full Platts report.