China: Iron ore spot prices remain unchanged d-o-d amid thin trading activity
China's iron ore fines (Fe 62%) spot prices remained stable d-o-d at $101.15/t CFR on 12 Nov'24 amid limited trades and weak demand, driven by diminishing landing margins for mainstream brands. With portside inventories relatively high, mills preferred portside to seaborne purchases, particularly for non-mainstream cargoes offering better discounts. A seasonal slowdown in steel demand also limited buying, weighing on demand for seaborne iron ore.