Author: Lalita
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China: Iron ore spot prices dip on cargo reselling, weak steel outlook
The spot price of benchmark Fe 62% iron ore fines inched down by $1.20/t to $221.10/t CFR China, with the spot market witnessing a surfeit of offers from end-users as they were in a hurry to resell cargoes. This was because of the Chinese government’s motto of tightening the leash on steel production in H2…