Iron ore fines (Fe 62%) spot prices increased by $1.40/t d-o-d to $101.15/t CFR China on 18 Oct’24. Iron ore prices have increased as hot metal production has edged up this week and there has been an uptick in rebar production volumes and downstream demand. China’s Q3CY’24 GDP growth of 4.6% y-o-y has boosted confidence in steel production recovery, thereby supporting iron ore prices.
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