Iron ore (Fe 62%) fines spot prices fell by $1.3/t d-o-d to $116.9/t CFR China on 28 Feb’24 amid thin buying activities and weak downstream steel margins. Inquiries in the seaborne market improved at lower prices. Some reports claimed that smaller scale mills are buying the material with light volume amid their lower inventory. Major steelmakers were waiting for clearer market sentiments.
