Iron ore (Fe 62%) fines spot prices sharply dropped by $8.25/t d-o-d to $108.40/t CFR China on 11 Mar’24. Prices fell to seven months lower amid bearish market sentiment caused by weak macroeconomic fundamentals along with production cuts by steel mills. Meanwhile, DCE iron ore futures for the May 2024 contract also fell by RMB 46/t ($6/t) d-o-d to RMB 831/t ($116/t) yesterday.
