Iron ore fines (Fe 62%) spot prices inched up by $0.30/t to $100.90/t CFR China on 26 Dec’24 amid supportive buying activity and rising steel production as blast furnace maintenances ended. Trading in Australian cargoes offered price support despite some surplus. Market sentiments improved on optimism over China’s revised economic growth forecasts for CY24-25. This bolstered confidence for a steel demand recovery.
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