China: Iron ore spot prices drop by $3/dmt d-o-d
Iron ore fines (Fe 62%) spot prices plunged by $3/dmt d-o-d to $106.2/dmt CFR China on 14 Oct. The drop was driven by weak trading, market uncertainty, and soft demand. Portside activity picked up amid talks of special port fees and ongoing Australian miner - steel mill negotiations. Market sentiment remained volatile due to factors such as high steel stocks and weak margins curbing demand.