China: Iron ore spot prices drop below $100/t as trade war escalates

Iron ore fines (Fe 62%) spot prices fell below the $100/t-mark on 7 Apr’25, dropping by $2.95/t to $98.85/t CFR China. Iron ore prices have fallen amid renewed US tariff concerns and weak demand for seaborne cargoes. Mills are delaying purchases, expecting further price correction amid poor macroeconomic sentiments.