Spot iron ore price dips by $2 on limited demand

Spot iron ore Fe 62% fines prices yesterday (12 Oct’20), was assessed at $123.85/t CFR China, a fall of $2 on d-o-d basis. Market sources noted thin interest to secure seaborne cargoes on offer from the miners on expectations of further uncertainty into the week, SteelMint learned. Also DCE iron ore futures observed a decline yesterday which softened the market sentiments.