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Iron ore has found its footing after a sudden plunge on Friday

3 days ago   |   By

Iron ore spot markets fell heavily on Friday after hitting fresh four-month highs on Thursday, undermined by a sharp slide in Chinese futures markets earlier in the session.
According to Metal Bulletin, the spot price for benchmark 62% fines fell 1.94% to $75.19 a tonne, reversing a similarly-sized gain on Thursday.
The weakness in the benchmark price flowed through to both higher and lower grades during the session. 58% fines slumped 2.86% to $49.59 a tonne while ore with 65% Fe content fell by a smaller 1.57% to $94 a tonne.
The declines followed a sharp reversal in rebar and iron ore...
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