Spot iron ore price jumped to a 10-year high since Feb 2011, amid concentrated demand for mainstream medium to high-grade fines from Chinese buyers. The price for Fe 62% fines yesterday surged by $6.55/t to $187.75/t CFR China. The market valuation for seaborne iron ore fines cargoes increased on the back of more active buying at the Chinese quayside and higher port stock prices in Chinese Yuan (RMB) for mainstream medium grade products.
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