Spot iron ore Fe 62% fines price inched higher by $1.9 d-o-d to $118.95/t CFR China on continued restocking demand for Oct’20 cargoes post-holidays in China. Vale’s suspension of Viga mines is unlikely to impact the supply & prices due to the size of the mine, estimated at 11,000 t/day, sources expect. On the contrary, the iron ore price outlook post-Golden Week holidays still hinges on downstream steel demand, rather than iron ore supply, they said.
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