China: Iron ore prices largely remain stable d-o-d despite sluggish buying interest
Iron ore (Fe 62%) fines spot prices inched up by $0.35/t d-o-d to $135.60/t CFR China on 15 Dec'23, supported by firm demand. However, most market participants adopted a wait-and-watch stance before beginning stock replenishment for the Lunar New Year vacations in China. Recent extreme weather conditions, such as heavy rainfall, have impacted port discharge and vessel docking at Tangshan region ports.