Iron ore fines (Fe 62%) spot prices increased d-o-d by $1/t to $99.25/t CFR China on 24 Oct’24. Buyer interest declined, with many adopting a wait-and-see approach, which impacted seaborne iron ore trading. Slowing construction activities in northern China due to falling temperatures has shifted focus to the southern markets. Anticipation of policy easing before next week’s meeting may provide short-term market stimulation.
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