Iron ore fines (Fe 62%) spot prices decreased by $0.50/t d-o-d to $104.75/t CFR China on 27 Jan’25, amid weak buying appetite ahead of the Lunar New Year holidays, as most market participants were absent. As per reports, there was subdued procurement and cautious sentiment, influenced by macroeconomic factors such as China’s manufacturing PMI dropping to 49.1 in January, which signalled slower industrial activity.
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