China’s iron ore fines (Fe 62%) spot prices remained stable d-o-d at $104.40/t CFR on 28 Nov’24. Limited trades were observed for seaborne medium-grade fines, as market participants remained cautious. Additionally, end-users preferred to buy at more favourable prices and avoid cargo arrivals near the Lunar New Year . Steel production decreased slightly this week, prompting mild bearish sentiments but no significant changes.
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