Iron ore fines (Fe 62%) spot prices inched up by $0.20/t d-o-d to $97.25/t CFR China on 7 Jan’25 amid balance between supply and demand dynamics, cautious cost control measures by buyers, and steady trading activity. While low-grade fines saw increased liquidity, their cost-effectiveness is under scrutiny compared to medium-grade options, leading to a shift in purchasing preferences. Additionally, ample supply and a weak US dollar/yuan exchange rate dampened market sentiment, keeping prices rangebound.
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