China’s iron ore fines (Fe 62%) spot prices rose $1.05/t d-o-d to $101.05/t CFR on 2 Jan’25. Prices rose at the start of the year due to strong procurement and post-holiday demand pick-up expectations, particularly for medium-grade fines. However, seaborne trading was inconsistent, as participants returned from the holidays. While pre-Lunar New Year cargo restocking is mostly finished, buying from Chinese ports may continue.
Leave a Reply