The spot prices of iron ore in China continued to fall d-o-d due to weak seaborne liquidity as well as decreasing steel margins. Benchmark Fe 62% fines prices moved down by $2.35/t to $91.4/t CFR China on 20 Oct’22. Market confidence fell even further as a result of negative market variables impacting total iron ore demand. Demand for high-grade ores is dropping with declining mill margins.
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