Iron ore fines (Fe 62%) spot prices further dropped by $1.75/t d-o-d to $90.50/t CFR China on 5 Sep’24 amid weak downstream steel margins and a demand-supply imbalance. Iron ore demand is low because steel mills are well-stocked and hesitant to buy more before the holidays. With the steady decline, China’s portside prices have reached levels considered advantageous for restocking.
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