China: Iron ore spot prices remain stable d-o-d but buying interest still weak

Iron ore fines (Fe 62%) spot prices inched up d-o-d by $0.25/t to $106.75/t CFR China on 7 Feb’25. Market fundamentals remained stable post-Lunar holidays and mills were cautious, though many expected a rise in demand for seaborne iron ore cargoes soon. However, weaker steel mill margins continued to weigh on trades, reducing the appetite for seaborne iron ore among end-users.