The spot price of iron ore fines (Fe 62%) increased by $1.05/t d-o-d to $120.55/t CFR China on 24 May’24 amid positive market fundamentals. Chinese mills reported steady pig iron production, indicating a continued need to purchase seaborne or portside material. With the rise in steel mill margins, there is an expectation that iron ore prices may fluctuate in the coming days.
