The spot price of iron ore benchmark Fe 62% fines moved up $3.7/t on 23 Jun’21 to $216.60/t, CFR China, on continued buying interest for medium-grade fines amidst tight port side supply. However, Chinese buyers were reluctant to book seaborne cargoes due to unclear price directions. Meanwhile, the iron ore futures market bounced back after a brief hiatus, with cautious sentiments subsiding. The most-active DCE Sept’21 iron ore contract rose by RMB 34/t on 23 Jun.
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