Iron ore fines (Fe 62%) spot prices declined $4.45/t d-o-d to $104.65/t CFR China on 8 Oct’24 amid expectations of bearish demand. End-users delayed procurement to await clearer market directions. Expectations for the post-holiday period were optimistic, as mills have resumed operations, but actual demand was slow. Returning participants may need a few days to find the market’s support and determine resistance levels.
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