China: Iron ore prices remain largely stable d-o-d amid weather constraints
Spot prices for iron ore (Fe 62%) stayed relatively steady d-o-d at $133.80/t CFR China on 19 December, 2023. Challenges in iron ore procurement arose from heavy snowfall in the Tangshan region, hindering the direct transportation of portside iron ore to mills and causing disruptions in portside activities. Sintering constraints and fluctuations in coking coal prices influenced iron ore prices, with steel mills operating under narrow margins.