PB fines spot prices are now around 990 yuan/mt at Qingdao port. The Fe62% Platts index rose slightly during the Chinese New Year, reaching 130 US dollars per tonne as of Feb 17. Some blast furnaces will resume operation after the holiday, boosting iron ore demand. Yet, considering poor steel mill profit margins in the off-season and growing iron ore port stocks, upside room of iron ore prices will be limited.

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