After hitting a low of $65 a tonne in October, spot prices recovered to $85 in mid-February, suggesting a price cut of just 20-25 per cent for annual contracts.

• 在去年10月触及每吨65美元的低位后，铁矿石现货价在2月中旬回升至每吨85美元，显示年度合约价可能只会下降20-25%25。