3Q Asian seaborne iron ore market sluggish due to weak demand and Platts Index forecasts decline to $105/dmt.

3Q Asian seaborne iron ore market remains sluggish due to weak demand fundamentals, and the Platts Iron Ore Index forecasts a decline to $105/dmt from Q2's $111.8/dmt. Low iron content cargoes from Brazil and a weak housing market contribute to the bearish sentiment. Asian met coal prices are expected to remain stable in Q3 due to sufficient supplies and post-monsoon procurement in India. Chinese traders hedge on futures markets to protect against downward risks.