Iron ore fines (Fe 61%) spot prices fell by $0.35/t to $103.2/dmt CFR China on 21 Jan’26. Softer prices drew buyers, lifting trading activity in mainstream medium-grade fines as participants took advantage of the dip. Cargoes with full-month laycans were trading at discounts of up to 30 cents/dmt amid laycan differences, while some mills began looking at alternatives to low-grade material.
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