The spot prices of iron ore in China increased d-o-d on the back of improving steel prices and talks about China relaxing its Covid-19 restrictions. Benchmark Fe 62% fines prices moved up by $1.10/t to $89.05/t CFR on 8 Nov’22. Seaborne buying interest remained tepid with abundant secondary market offers and limited bids due to import margin losses for mainstream iron ore products.
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