Iron ore fines (Fe 62%) spot prices increased by $0.75/t d-o-d to $108.75/t CFR China on 15 Jul’24. Market activity slowed down amidst the ongoing Third Plenary Session and participants are waiting for the results of the meeting. The import margin is still low and has continued to deteriorate. The market expects seaborne iron ore prices to soften on weak import margins.
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