Iron ore fines (Fe 62%) spot prices increased d-o-d by $1/t to $101.10/t CFR China on 27 Aug’24 following positive macroeconomic factors, particularly the expectation of lower U.S. interest rates. Additionally, the market’s focus is on factors such as steel mill margins, the peak steel demand season, and low inventory levels for finished steel for a near-term recovery in both steel and iron ore prices.
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