Author: Nidhi Awasthi
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China: Spot iron ore prices drop by $3/t d-o-d amid weak market sentiments
Iron ore (Fe 62%) fines spot prices decreased by $2.65/t d-o-d to $110.40/t CFR China on 16 Apr’24 amid weak market fundamentals and thin trading activity. Prices fell yesterday after the NBS China released March data on steel production. Middle East tensions may affect the Asian iron ore market, leading to a cautious outlook on…