Iron ore fines (Fe 62%) spot prices inched down by $0.5/t to $104.25/t d-o-d CFR China on 10 Oct’24. Steel mills are maintaining low inventory levels and mainly restocking through port spot markets but medium-grade seaborne cargoes are facing losses upon arrival. The market is eagerly waiting for the Ministry of Finance’s upcoming press release on 12 October, anticipating potential macroeconomic policy support.
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