China: Iron ore spot prices rise by $1/t d-o-d following improved trading activity

China’s iron ore fines (Fe 62%) spot prices increased by $1.35/t d-o-d to $105.85/t CFR on 7 Nov’24, driven by increased trades and anticipation regarding new economic policies from the upcoming National People’s Congress meeting. Market sentiment is improving, with steel mills increasingly focusing on medium-grade fines for blending, boosting liquidity for this grade.