The spot price of iron ore Fe 62% fines fell by $5.95/t to $214.10/t, CFR China, as seasonally weak demand for steel products put a dampener on iron ore demand. Trade participants turned cautious due to safety and environmental curbs in the major steel hubs in China as well as weak downstream demand. DCE iron ore futures, on the other hand, dropped sharply by 3.5% to close at RMB 1,153/t on 29 Jun’21.
Leave a Reply