China: Iron ore spot prices drop further by $1/t d-o-d
Iron ore fines (Fe 62%) spot prices fell by $1.15/t d-o-d to $100.90/t CFR China on 20 Dec'24 amid slow trading activity and unfavourable market fundamentals. A decline in daily hot metal production, coupled with steel mills facing losses, has dampened demand. Most mainstream iron ore grades are currently lacking sufficient landing margins, making it challenging for premiums to remain high.