Iron ore fines (Fe 62%) spot prices increased d-o-d by $2.05/t to $106.50/t CFR China on 6 Feb’25 driven by market optimism ahead of China’s upcoming plenary sessions. Market participants anticipate positive policy signals despite weaker market fundamentals, supporting price gains for seaborne cargoes. The rise in spot prices led to reduced buying interest from steel mills, which are waiting for clearer trends.
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