China: Iron ore spot prices inch down d-o-d following weak margins, improved supply

Iron ore fines (Fe 62%) spot prices edged down by $0.25/t d-o-d to $109.10/t CFR China on 24 Feb’25 as mills faced weak margins. As per reports, improved weather conditions led to stable ore supply from Australia, alleviating supply concerns. Meanwhile, prices are expected to remain stable, as adverse weather conditions have ceased, but potential oversupply may limit increases in the second quarter of CY’24.