China iron ore prices rise by $2/t amid upcoming Lunar holidays
Iron ore (Fe 62%) fines spot prices rose by $2/t d-o-d to $140/t CFR China on 22 Dec'23 due to macroeconomic factors and expectations of an uptick in iron ore demand before the Lunar New Year holidays. Regional transportation issue due to heavy rainfall have been improved and the discount from the prominent mines also narrowed down.