Tag: China iron ore offers
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China: Iron ore prices drop $6/t d-o-d on steel output regulation news
Spot prices of iron ore fines (Fe 62%) dropped significantly by $5.6/t d-o-d to $109.65/t CFR China on 3 Jun’24 amid weak market fundamentals. Recently, the Chinese government announced new regulations on steel production capacity and output control, so the market continues to feel the impact of this news.