The spot price of iron ore Fe 62% fines went down by $2.85/t d-o-d on 4 Jun’21 to $208.35/t, CFR China, on subdued trading activity in the spot market as steel margins deteriorated. Buyers turned cautious ahead of the rainy season. Market sources expect steel demand in China to face downward pressure due to bad weather in some regions. Iron ore futures on the Dalian Commodity Exchange reversed down by RMB 25.5/t, while on the Singapore Exchange ore futures slipped by $7.6/t on 4 Jun.
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