Spot prices of iron ore in China rose d-o-d as the country relaxed some Covid-19 movement restrictions. Benchmark Fe 62% fines prices rose $4.1/t to $92.25/t CFR China on 11 Nov’22. Participants saw this as a positive sign that the country is beginning to relax restrictions. However, some sources stated that uncertainty remains in the market and they will remain cautious for the time being.
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