China: Iron ore spot prices increase by $1/t d-o-d despite thin trading activity

Iron ore fines (Fe 62%) spot prices rose by $0.95/t d-o-d to $107.70/t CFR China on 10 Feb’25, despite subdued trading. Market sentiment remained firm amid supply concerns, with unconfirmed reports of potential disruptions from Rio Tinto due to forecasted cyclones. However, US President Trump’s proposed 25% tariffs on steel and aluminium imports added market uncertainty.