China: Iron ore spot prices fall by $2/t d-o-d on sluggish trading activity

China’s iron ore fines (Fe 62%) spot prices dropped by $1.65/t d-o-d to $101.15/t CFR on 11 Nov’24. Limited trading, low buying interest, and a weak market outlook weighed on prices. Market sentiment remains subdued following disappointing policy announcements from China’s National People’s Congress on 8 November. Additionally, China’s port stock prices continued to drop amid bearish market sentiment.