Iron ore spot prices in China fell by $1.1/t d-o-d for the fourth day in a row, to $120.3/t CFR China yesterday. The market speculated on a possible decline in China’s crude steel output. Prices dropped by $11.7/t since the beginning of this week. Market sources said that the 2.5% reduction in China’s crude steel production in 2023 may have a negative impact on iron ore demand.
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