Iron ore fines (Fe 62%) spot prices declined by $1.9/dmt to $99.05/dmt CFR China on 31 Jul’25. The drop was mainly driven by weak market sentiment after the recent Politburo meeting fell short of expectations. With no major stimulus and ongoing concerns over potential US tariffs, the paper market came under pressure. Mills are only procuring stock as needed, and traders opted for a wait-and-watch mode.
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