Seaborne iron ore prices softened after the previous week’s futures-driven rally, with the 62% Fe index slipping to $101.44 per dmt CFR Qingdao. Buyers remained cautious because rising coke costs were squeezing steelmaking margins and downstream steel demand had yet to recover convincingly. Demand for mid-grade fines nevertheless remained healthy ahead of China’s Golden Week restocking period. Lump premiums dropped by 7.1%, while the pellet-feed premium rose 11.5%, reflecting mills’ growing preference for materials that reduce coke consumption.
