The spot price of iron ore Fe 62% fines rose by $4.10/t to $221.4/t CFR China on 5 Jul’21 backed by rising steel prices. Spot demand for high-grade fines remained firm but availability was limited. Bullish iron ore futures also provided support to the iron ore spot price. DCE’s most-traded Sept iron ore contract closed high at RMB 1,225/t, up RMB 42.5/t.
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