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Spot iron ore prices at US$145~US$147/ton C&F

It’s reported that the spot iron ore prices dropped before the Chinese New Year vacation.

The latest prices of Indian spot iron ore fines contain 63.5% Fe have dipped to US$145~US$147/ton C&F, down by US$2/ton from the previous quote.

Traders analyzed that the dip in spot iron ore prices were caused by the factor that Chinese steel mills postponed the iron ore purchase before Chinese New Year vacation.