Iron ore fines (Fe 62%) spot prices decreased by $0.95/t d-o-d to $104.35/t CFR China on 19 Jul’24. The surplus of seaborne iron ore supplies has pressured spot prices, reducing margins for many mills. However, mills and traders are focusing on cost-effective low-grade fines rather than premium grade material. Enough finished steel inventory with the Chinese mills are also the reason for low demand.
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