The spot price of the benchmark iron ore Fe 62% fines fell further by $9/t on 10 Aug’21 to $162.20/t CFR China. Chinese traders reported a sharp drop in port stock prices which discouraged buyers from booking any cargoes, further adding to the bearish sentiments in the market. On the other hand, the iron ore futures market remained largely stable with no major correction seen in the DCE’s most-traded Jan’22 contract prices.
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