Iron ore fines (Fe 61%) spot prices rose by $3.5/dmt d-o-d to $112.05/dmt CFR China on 5 May’26. Prices surged amid stronger futures and improved steel market sentiment, driving active trade following the Labour Day holidays (1-5 May). However, buyers remained cautious due to sufficient material availability and expectations of some correction in prices. Demand from Chinese steel mills stayed healthy after the holidays, with occasional preference seen for more competitively priced portside cargoes.
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