Tag: iron ore market news
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China: Iron ore prices drop by $1/t d-o-d amid subdued buying appetite
Iron ore fines (Fe 62%) spot prices fell $1/t d-o-d to $98.95/t CFR China on 16 Apr’25. Despite a slight improvement in macroeconomic sentiment, supported by NBS revealing a 4.6% uptick in crude steel production in March, subdued buying appetite weighed on spot prices. Additionally, rising mill resales and backwardation concerns pressured sentiment, while fines…