The spot prices of iron ore in China dropped d-o-d as the market followed a wait-and-watch approach, with trading activity reducing due to an increase in Covid-19 cases. Benchmark Fe 62% fines prices declined by $2.6/t to $111.65/t CFR China on 22 Dec’22. Seaborne trading activity was limited, with the majority of market participants wary of acquiring more as mills’ buying interest becomes gradually weaker.
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