The spot price of iron ore Fe 62% fines dropped further by $2.5/t to $200.45/t CFR China as premiums for medium-grade fines fell on the back of subdued demand from Chinese steelmakers. Steel mills in China are choosing to blend low-grade fines due to output curbs. However, some market participants believe that higher usage of low-grade fines is not expected to be a sustainable trend as mills are hopeful of an improvement in steel margins.
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