Iron ore fines (Fe 62%) spot prices fell by $0.45/t d-o-d to $98.85/t CFR China on 12 Aug’24 against 8 Aug’24. Prices remained under pressure amid weak market fundamentals with limited buying activity and reduced demand due to maintenance shutdown by mills leading to further production cuts. Mills prioritised lower-grade fines, supported demand and a gradual narrowing of the medium-low grade spread.
Leave a Reply