Seaborne iron ore prices eased after the previous session’s rally, with the 62% Fe index falling to $98.73 per dmt CFR Qingdao. Chinese mills reduced portside buying because coke-price increases and weak finished-steel demand were compressing margins. Buyers instead showed more interest in low-grade Brazilian fines, pellet feed and alternative direct-charge material. Australian lump premiums remained strong due to tighter availability, despite generally cautious market sentiment.
