Iron ore fines (Fe 62%) spot prices fell by $1.4/dmt d-o-d to $105.65/dmt CFR China on 11 Sep’25. The drop was driven by weak fundamentals and softer rebar demand, which pressured the paper market. However, Beijing’s move to address over $1 trillion in unpaid local government bills helped limit the downside. As margins tightened, buyers preferred cheaper low-grade ores, while medium-grade fines continued to anchor the market.
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