China: Iron ore spot prices increase by $2/t d-o-d as steel mills' margins improve

China's iron ore fines (Fe 62%) spot prices rose $1.5/t d-o-d to $100.7/t CFR on 14 Jan'25, amid improved steel mill margins following lower coking coal and coke costs. Strong demand for medium- and low-grade sintering fines continued, aided by mild winter weather, which sustained construction activity in northern China. With most mills completing January restocking, a potential demand increase is expected in February, post-holidays.