Iron ore fines (Fe 62%) spot prices rose $0.25/t to $104.1/t CFR China on 1 Apr’25, amid expectations of a Q2 2025 demand recovery. However, concerns about the availability of low-priced material limited gains. Seaborne activity was muted, with a focus on higher-grade fines, while low- to mid-grade cargoes faced negative margins. Reportedly, some northern mills resumed using cheaper post-screened high-grade Brazilian fines instead of concentrate.
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