The spot price of iron ore (Fe 62%) fines inched up by $0.85/t d-o-d to $222.85/t CFR China on 7 Jul’21, as Chinese steel prices continued to rise. Demand for medium-grade fines recovered as spot market activities returned to normal after the centennial celebrations of the Chinese Communist Party on 1 Jul. China’s iron ore futures market also remained volatile with a slight increase of RMB 13/t on the DCE’s Oct’21 iron ore contract.
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