The spot price of iron ore rebounded on 8 Jun’21 as trading continued in the spot market. The price of Fe 62% iron ore fines jumped by $7.55 to 210.40/t, CFR China. Few offers were seen in the secondary market as trade participants remained cautious due to weakness in Chinese steel prices. Also, lower steel margins are trimming premiums for high-grade fines. Meanwhile, iron ore futures on the DCE closed higher by RMB 31/t d-o-d on 8 Jun.
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