Iron ore fines (Fe 62%) spot prices decreased by $1/t to $105/t CFR China on 3 Feb’25 amid muted demand during the Lunar New Year holidays. Bearish sentiments persisted amid macroeconomic concerns over US tariffs on Chinese goods and a weakening Yuan. As per reports, China has come up with retaliatory tariffs. Market participants remain cautious, awaiting further clarity on price direction.
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