Iron ore fines (Fe 62%) spot prices remained steady d-o-d at $100.95/t CFR China on 13 Nov’24 due to cautious procurement by steel mills and ample port stock availability, which stabilised supply-demand dynamics. Additionally, the increasing cost-effectiveness of spot cargos over seaborne alternatives has encouraged steel mills to focus on existing portside stocks rather than new shipments, limiting price fluctuations.
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