China: Iron ore spot prices fall by $1/t d-o-d
Iron ore fines (Fe 62%) spot prices dipped by $0.65/t d-o-d to $105.35/t CFR China on 17 Dec'24, pressured by abundant portside inventories and increased preference for cost-effective alternatives, which offer favourable specifications. Blending options and weak buying interest for seaborne cargoes arriving during the Lunar New Year further dampened demand, softening premiums for the latter.