Iron ore fines (Fe 62%) spot prices increased d-o-d by $1.90/t to $109.50/t CFR China on 20 Feb’25 following positive economic news and a bullish outlook. Steel mills are resuming operations, but declining margins may reduce demand for high-grade products, potentially leading to price cuts to manage inventory. President Trump hinted at a potential US-China trade deal, which would boost market sentiment.
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