China’s imported iron ore fines (Fe 62%) spot prices dropped $2.25/t d-o-d to $98.80/t CFR on 3 Jan’25 amid weak market fundamentals and reduced activity ahead of the Lunar holidays. Decline in daily hot metal production, amid blast furnace maintenance shutdowns and squeezed margins pressured prices. Sentiments remain cautious despite reports of potential rate cuts by China’s central bank this year.
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