China’s iron ore fines (Fe 62%) spot prices inched up by $0.40/t d-o-d to $97.50/t CFR on 9 Jan’25. Prices remained firm due to decent demand for medium-grade fines, despite ample port stocks. Spot liquidity was steady, bolstered by secondary market trades. Mills’ restocking and expected increases in steel production after the Lunar New Year fuelled buying interest, contributing to upward price momentum.
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