Iron ore fines (Fe 62%) spot prices decreased by $1.60/t d-o-d to $105.10/t CFR China on 21 Jun’24 as concerns about near-term demand fundamentals intensified. As per reports, short-term optimism has faded as seaborne prices are expected to weaken in the coming days. Downstream steel margins are weakening, and discounts on certain medium-grade ores have worsened resulting in a near-term downtrend.
Leave a Reply