China: Spot iron ore prices drop by $3/t d-o-d
Spot prices of iron ore fines (Fe 62%) decreased by $3.40/t to $115.35/t CFR China on 8 May'24 as buyers were still hesitant to buy at the higher price. As per report, the market witnessed an instant price spike earlier in the week, shattering earlier expectations of post-holiday restocking efforts. China's interest in portside buying dropped as market players focused on price monitoring.