Iron ore fines (Fe 62%) spot prices dipped $4.10/t d-o-d to $105.50/t CFR China on 10 Jul’24 due to weak market fundamentals coupled with sluggish steel demand. Steel and raw material prices have dropped due to rainy weather in southern China amid expectations of macroeconomic reforms. In addition, steel mills that have recently experienced losses have opted for maintenance downtimes.
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