Iron ore fines (Fe 62%) spot prices climbed $2.75/t d-o-d to $102.95/dmt CFR China on 21 Jul’25 fuelled by optimistic macroeconomic signals, including news of hydropower initiative and active buying of mid-grade fines. China announced construction on the world’s largest hydropower dam, which may support construction, cement, and steel sectors. The market was bullish, with portside prices rising on stimulus hope.
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