China’s iron ore fines (Fe 62%) spot prices dropped marginally by $0.70/t d-o-d to $105.10/t CFR on 11 Dec’24. Lukewarm demand from steel mills and ample supply in the market cooled seaborne prices. Reportedly, buyers opted for fixed-price cargoes to hedge, leading to a wider gap between primary and secondary market premiums. China’s portside tags also fell due to low buying interest from steel mills.
Leave a Reply