Iron ore fines (Fe 62%) spot prices increased sharply d-o-d by $4.10/t to $100.10/t CFR China on 26 Aug’24. This surge was driven by positive market sentiments, bolstered by favourable macroeconomic indicators. Recently, the U.S. Federal Reserve hinted at a possible rate cut in September, raising expectations of improved market liquidity. Additionally, anticipation regarding supportive economic policies from China contributed to the optimistic outlook.
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