China’s iron ore fines (Fe 62%) spot prices increased by $1.95/t d-o-d to $101.20/t CFR on 25 Oct’24, following improved market sentiment and rising steel mill production. With steelmakers gradually resuming operations and pig iron output increasing, confidence has grown regarding a potential market recovery, which has prompted mills to ramp up procurement. Additionally, demand for medium-grade fines with higher discounts saw a gradual uptick.
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