Spot prices of iron ore in China decreased d-o-d amid limited seaborne trade activity and a surge in import losses between seaborne and portside markets. Benchmark Fe 62% fines prices fell by $1.1/t to $118.7/t CFR China on 9 Jan’23. Chinese steel mills are reportedly storing the material as the country suffers from an increasing number of Covid-19 infections as the Lunar New Year vacations draw near.
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