China: Iron ore spot prices drop by $2/t d-o-d amid festive holidays
Iron ore fines (Fe 62%) spot prices decreased by $1.70/t d-o-d to $90.95/t CFR-China on 16 Sep'24 following a weak market and slow trading due to the ongoing Mid-Autumn Festival. According to reports, last week's National People's Congress did not offer much in terms of economic stimulus signals. Attention has now shifted to this week's Federal Reserve rate decision and the upcoming October Politburo meeting.