China: Iron ore spot prices fall d-o-d as import losses make buyers cautious

Benchmark iron ore fines (Fe62%) prices continued to fall by another $1.55/t d-o-d to $125.15/t CFR China on 2 Feb’23. In the secondary market, buying interest for seaborne cargoes remained muted, as import losses continued to drive participants away. Meanwhile, the trading activities at portside grew despite a drop in prices on the day.