Spot prices of iron ore fines (Fe 62%) dipped by $0.90/t d-o-d to $114.15/t CFR China on 15 May due to the insufficient trade activity that failed to prop up a positive trend. As per report, downstream margins have shown improvement, iron ore prices are still lacking significant support. The demand for both June and July deliveries has been lacklustre in a market that is experiencing backwardation.
