Tag: Spot price
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China: Iron ore spot price continues rising on hopes of demand recovery
The spot price of iron ore benchmark Fe 62% fines rose by another $5.7/t to settle at $159.05/t CFR China on expectations of a rebound in raw material prices in China. Steel demand, especially in the construction sector, is expected to improve in the short-term which, in turn, will drive iron ore prices, sources said.