China: Iron ore spot prices remain largely stable d-o-d amid thin trading activity

China's iron ore fines (Fe 62%) spot prices remained largely stable d-o-d at $101.60/t CFR on 20 Nov'24 amid subdued trading activity. Participants remained cautious, assessing the impact of recent Chinese stimulus measures. Additionally, high port inventories and a strong USD dampened demand. Meanwhile, some Chinese steel mills reportedly resold cargoes in preparation for maintenance schedules amid the approaching winter season in the northern hemisphere.