Iron ore spot prices in China rose on 5 Sep’22 on improved seaborne liquidity. Benchmark Fe 62% fines prices rose $3/t to $98/t CFR China. Due to the re-emergence of COVID-19, steel mills had to postpone the restart of blast furnaces that had been put on maintenance in Jul-Aug. Lump demand remained subdued on negative steel mill margins that kept buyers at bay.
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