Iron ore fines (Fe 62%) spot prices increased by $0.80/t d-o-d to $102.40/t CFR China on 21 Nov’24, supported by improved downstream market fundamentals. However, trading activity slowed, as market direction remains unclear, with some end-users seeking cost-effective low-grade cargoes and mills preparing for a winter sinter cut. As per reports, destocking efforts bolstered downstream steel demand and can sustain high pig iron production levels.
Leave a Reply