China: Iron ore spot prices soften d-o-d
Iron ore fines (Fe 62%) spot prices edged down d-o-d by $0.25/dmt to $105.95/dmt CFR China on 16 Oct. Mid-grade blend fines stayed in demand at deeper discounts. However, spot trading slowed notably, as mills avoided fresh purchases following weak finished steel data. With profit margins under pressure, mills trimmed lump usage in their blends, shifting preference toward fines.