The spot price of iron ore Fe 62% fines dropped by $1.3/t on 30 Aug’21 to *$157.75/t CFR China on dull market sentiments amidst subdued demand for the steelmaking raw material. Trade participants expect this bearish trend to continue in the near term which may keep iron ore prices under pressure. There is adequate supply of iron ore cargoes for Sept laycan, while concerns over steel output curbs in China continue to persist.
*Corrected
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