Spot iron ore price (Fe 62% fines) surged by $4.65/t to $177.30/t CFR China as better market expectations for high grade fines boosted the sentiment. Prices also remained supported by rise in iron ore futures prices. Yesterday, DCE iron ore futures rose by RMB 37/t and SGX futures climbed $4.9/t, as per SteelMint’s assessment.
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