Author: Lalita
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China: Iron ore spot prices plunge on sluggish demand
The spot price of iron ore Fe 62% fines fell sharply by $22.85/t to $130.20/t CFR China on 19 Aug’21. Bearish sentiments in the Chinese steel market, a weak demand outlook and falling iron ore futures have collectively dragged spot prices down. As per market sources, downstream steel demand in China has softened amidst expectations…