Author: Lalita
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China: Iron ore spot prices plunge on oversupply
The spot price of iron ore Fe 62% fines fell sharply by $12.10/t to $201.50/t CFR China as the market was flooded with offers. End-users kept on reselling cargoes as demand is expected to remain low due to stricter output curbs in China. Following government directives, several steelmakers have already shut down their blast furnaces…