China’s iron ore fines (Fe 62%) spot prices were stable d-o-d, up by $0.10/t d-o-d at $97.60/t CFR on 10 Jan’25 amid slow market activity. Spot buying for seaborne cargoes was weak, amid poor steel mill margins and high inventories. However, the market expects increased steel production after the Lunar New Year. Restocking activity for mainstream medium-grade fines at steel mills appears to be decreasing.
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