Chinese iron ore fines (Fe 62%) spot prices slipped by $0.45/t d-o-d to $99.7/t CFR on 22 May’25. Prices dropped as mills shifted to mid-to-low grade blends to protect margins. Although supply tightened slightly, Indian shipments helped fill the gap. While Chinese coastal mills saw decent profits, high-grade material was less favoured at current prices, and there was stronger demand for medium and lower grades.
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