Iron ore fines (Fe 62%) spot prices dipped by $0.65/t to $100.45/t CFR China d-o-d on 28 Aug’24 despite an increase in buying and improved market sentiments. Additionally, global economic uncertainties and a cautious approach by steelmakers in purchasing raw materials have weighed on iron ore prices. However, blast furnaces may resume production from next week which may support iron ore prices.
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