Benchmark iron ore Fe 62% fines prices in China inched down by $0.15/t d-o-d to $123.6/t CFR on 15 Feb’23 amid limited trading in the seaborne market. According to sources, market participants saw Chinese steel mills focusing on decreasing inventory levels and lowering production costs. As a result, despite margin concerns, procurement patterns remain heavily skewed toward more broadly discounted cargoes.
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