Iron ore fines (Fe 62%) spot prices dropped by $0.5/t to $96.30/t CFR China on 2 Jun’25 against 30 May’25. The decline was attributed to a market pause as China observed the Dragon Boat Festival, slowing trading activity. As per reports, overall fundamentals still remain healthy: mills continued to prioritise margin preservation, increasingly favouring lower-grade, more cost-effective raw materials.
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