Iron ore fines (Fe 62%) spot prices dropped by $2.25/t to $106.85/t CFR China on 25 Feb’25 due to weak buying activity. Adverse weather has hindered Australian shipments from recovering, supporting the premium for medium-grade fines. Buyers are adopting a wait-and-see approach ahead of the Two Sessions and prices may rise in early Apr on expectations of a likely stimulus announcement in the high-level meeting.
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