China’s iron ore fines (Fe 62%) spot prices dipped by $1.15/t d-o-d to $106.55/t CFR on 11 Feb’25 due to sluggish buying. Steel mills, facing margin pressure and declining prices, held back on purchases after the US imposed 25% tariffs on steel and aluminium imports. Reportedly, mills were unwilling to make further purchases amid rising iron ore prices, due to their inability to sell steel products.
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