The spot price of benchmark Fe 62% iron ore fines decreased by $6.45/t to $213.6/t CFR China on 21 Jun’21 with ample offers in the secondary market. End-users were in a hurry to resell cargoes on production cuts in China. The iron ore futures market turned bearish as demand for the steelmaking ingredient softened after production control measures were rolled out in a few Chinese provinces.
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