The spot price of iron ore (benchmark Fe 62% fines) remained rangebound on 28 Jul’21 to close at $201.25/t CFR China (up slightly by $0.80/t) on thin buying interest. Premiums of medium-grade fines continued to fall amidst production cuts in China, while traders struggled to sell their cargoes due to lack of buying interest. Iron ore futures closed higher by RMB 28 d-o-d yesterday to RMB 1,137.5/t, as per SteelMint’s assessment.
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