Iron ore fines (Fe 62%) spot prices increased by $2.65/t d-o-d to $108.15/t CFR China on 11 Jul’24 amid mixed market sentiments. The latest steel data showed a decrease in rebar inventories and a recovery in production and demand for HRC, which supported iron ore prices. Meanwhile, market players have low expectations for the next Third Plenary Session and any new policy pronouncements could significantly impact the market’s dynamics.
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