China: Iron ore spot prices rise by $2/t d-o-d amid improvement in trading activity

China’s iron ore fines (Fe 62%) spot prices increased by $1.75/t d-o-d to $102.95/t CFR on 25 Nov’24 amid improved trading activity, stemming from positive macroeconomic factors. China’s 2.9% y-o-y increase in crude steel production for Oct’24 and a favourable dollar-yuan exchange rate supported seaborne demand.