The spot prices of iron ore in China slightly increased d-o-d as market participants expect additional policies to help boost the economy. Benchmark Fe 62% fines prices inched up by $0.8/t to $115.55/t CFR China on 29 Dec’22. Seaborne trade was minimal as market participants were cautious about procuring cargoes. Furthermore, mills are focusing on purchasing more at portside rather than seaborne as it is less expensive.
Leave a Reply