The iron ore spot prices in China rose d-o-d on low supply forecasts for the Brazilian material. Benchmark Fe 62% fines prices rose by $3.25/t to $110.70/t CFR China on 8 Dec’22. Despite a slight reduction in import losses, seaborne demand remained limited. Furthermore, iron ore demand in China remained weak, particularly for high-grade fines, as steel mills are currently operating on negative production margins.
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