Iron ore fines (Fe 62%) spot prices decreased by $1.35/t to $105.75/dmt CFR China on 8 Dec. The market experienced new trading activity, primarily focused on medium-grade fines, amid a weak outlook. The earlier optimism regarding macroeconomic support in December has declined, leading to a bleak view of market fundamentals for near term. Mills are likely to prioritise cost-effectiveness in their procurement decisions in the short term.
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