Iron ore (Fe 62%) fines spot prices dropped by $1.95/t d-o-d to $120/t CFR China on 21 Feb’24. Prices fell for the third consecutive day amid lack of iron ore demand post-holidays following the downtrend in the downstream steel market. As per reports, the post-holiday restocking activity failed to improve in China while numerous participants were sidelined and waiting for clearer market directions.
