Spot prices of iron ore in China declined d-o-d due to slow downstream steel demand. Benchmark Fe 62% fines prices moved down by $2.35/t to $79.5/t CFR China on 31 Oct’22. Trading activity in the seaborne market was low despite an abundance of secondary market offers during the day. Demand for high-grade iron ore remains high, with cost-competitiveness a major factor for Chinese steel mills.
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