Iron ore fines (Fe 62%) spot prices rose $0.65/t d-o-d to $101.55/t CFR China on 23 Dec’24 despite subdued seaborne trading amid the holiday season. A slight increase in finished steel prices kept iron ore prices stable. Reportedly, adverse weather in Australia has led to declining shipments towards the year-end. However, stockpiles remain high, and prices will likely not drop sharply in the short term.
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