Spot iron ore price decreased marginally by $0.75/t d-o-d to $172.15/t CFR China as demand at the current price levels waned. Sources reported greater availability of May-loading cargoes as market participants looked to reduced premiums for mainstream fines cargoes. Prices have been pulling ahead with the high steel margins, several sources highlighted. Meanwhile, Chinese iron ore futures market remained volatile with prices of most-traded Sep contract falling marginally by RMB 11/t.
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