Author: Lalita
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China: Iron ore spot price drops on hopes of easing supply
The spot price for iron ore Fe 62% fines dropped by $1.50/t to settle at $217.3/t CFR China as supply concerns eased. Australian miner BHP had begun iron ore production from its South Flank mine in late-May’21, which fuelled expectations of improving shipment volumes in Q3 CY’21. Meanwhile, spot demand continued to remain weak amid…