China’s iron ore fines (Fe 62%) spot prices increased by $2.70/t d-o-d to $106.10/t CFR China on 9 Dec’24 amid positive macroeconomic developments following yesterday’s Politburo meeting. The announcement of more active fiscal measures and loose monetary policies fuelled a sharp price hike. However, participants were confused by the sudden spike and, consequently, adopted a cautious approach to trading in the spot market.
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