Iron ore spot prices in China increased d-o-d amid active buying in the seaborne market. Benchmark Fe 62% fines prices moved up by $3.45/t to $122.15/t CFR on 10 Jan’23. According to sources, China will issue more local special bonds to fund infrastructure projects in CY23, raising expectations for stronger steel demand. Despite continued import losses in the seaborne market, there was minimal impact on buying interest.
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