Iron ore (Fe 62%) fines spot prices dipped by $1.7/t d-o-d to $115.40/t CFR China on 1 Mar’24 due to lower trading activity. Chinese steel mills were facing challenges as they bought costly raw material stocks during February, leading to low production margins and causing hesitation to raise operating rates. Meanwhile, DCE iron ore futures fell by RMB 21/t ($3/t) to RMB 872/t ($123/t) yesterday.
