China’s iron ore fines (Fe 62%) spot prices inched up by $0.35/t d-o-d to $105.80/t CFR on 2 Dec’24. The market improved amid strong buying interest and expectations regarding favourable policies. Although hot metal production dipped last week, pre-holiday restocking demand has provided support. Strong demand for seaborne cargoes of Dec-Jan laycans, expected to arrive before the Lunar New Year, has sustained stable premiums.
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