Iron ore (Fe 62%) fines spot price increased by $1.10/t d-o-d to a three-week high of $108.65/t CFR China on 11 Apr’24 amid recovery in downstream steel demand. Seaborne iron ore prices continued to rise this week following improvements in steel sales in the Chinese domestic market. Portside offers, too, increased as steelmakers marked an improvement in margins and better restocking.
