Iron ore fines (Fe 62%) spot prices fell by $1.75/t d-o-d to $98.25/t CFR China on 23 Oct’24 due to weak steel margins and muted finished steel demand, with some mills still utilising existing raw material inventories. Additionally, several cities in North China announced a level-2 emergency to combat air pollution, raising the likelihood of localised sintering restrictions. Market participants remained cautious amid these developments.
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