Iron ore fines (Fe 62%) spot prices fell d-o-d by $0.95/t to $103.40/t CFR China on 6 Dec’24 due to weakened demand from Chinese steel mills, driven by ongoing maintenance schedules for blast furnaces and reduced hot metal production. This has resulted in lower consumption of iron ore, while high inventory levels at ports have further intensified the supply-demand imbalance, pushing prices down.
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