The spot prices of iron ore in China surged d-o-d on improved steel prices and the yuan’s gain against the dollar resulting in a reduction in import loss. Benchmark Fe 62% fines prices rose by $2.3/t to $109.60/t CFR China on 5 Dec’22. Sources informed that easing lockdowns across many Chinese cities continued to boost market sentiments toward the recovery of iron ore demand and prices.
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