Iron ore prices in the Chinese spot market yesterday witnessed a sharp decline of $6.2 d-o-d on weak buying interest and cheaper portside cargoes. Price for iron ore Fe 62% fines dropped to $154.5/t CFR China. Meanwhile, SteelMint’s daily assessment showed DCE iron ore futures falling by RMB 23.5 on a d-o-d basis. Singapore iron ore futures also dipped by $5.91 in yesterday’s trading.
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