The spot price of iron ore fines (Fe 62%) inched down by $0.60/t on 13 Aug’21 to $160.85/t CFR China on thin buying. Market participants have different opinions on the near-term price trend. Some expect that downstream steel demand may pick up ahead of the Sept-Oct peak season, which may also provide support to volatile raw material prices. However, traders believe that buyers with term contracts have sufficient mainstream cargoes at present and are unlikely to procure more of them.
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