China: Iron ore spot prices fall by $3/dmt d-o-d amid weak steel margins

Iron ore fines (Fe 62%) prices dropped by $2.65/dmt d-o-d to $102.05/dmt CFR China on 7 Nov'25, pressured by sluggish trading and deteriorating steel market fundamentals. Weaker steel margins, reduced buying appetite from mills, and limited seaborne cargo activity weighed on sentiment, leading to a continued slide in prices.