The spot prices of iron ore in China improved d-o-d on optimistic steel data. Benchmark Fe 62% fines prices inched up by $1.60/t to $93/t CFR China on 21 Oct’22. Seaborne buying interest was muted due to poor import margins and market participants were cautious about buying more cargo. Portside liquidity was low, with large bid-offer spreads as buyers remained concerned.
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