Iron ore fines (Fe 62%) spot prices dipped by $1.05/t d-o-d to $104.40/t CFR China on 5 Feb’25, reflecting weak market fundamentals, though trading activity resumed post-Lunar New Year holidays. Despite relatively low iron ore inventories, buying interest remained subdued due to ample steel stockpiles and sluggish mill margins. Additionally, as per reports, market participants expect a near-term decline in molten iron production.
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