The interminable slump in prices on the DCE iron ore futures continued on Friday, with the most active contract falling almost 2.5%. It was a typically quiet Friday for the physical commodity though, with only a limited amount of iron ore spot trade going through ahead of the weekend.

In Southern Europe this was the first full working week for much of the Italian market and HRC prices were stable between €380-390 a ton. With negotiations for end-Q1 delivery still ongoing, however, more clarity about price direction may come next week as some market players expect mills’ offers to go up closer to the €400 a ton mark in the near