China: Iron ore spot prices rise $2/t d-o-d amid supportive macroeconomic news
Iron ore fines (Fe 62%) spot prices rose $1.75/t d-o-d to $96.35/t CFR China on 25 Sep'24 amid the recent economic stimulus measures, including a reduction in the reserve requirement ratio by 50 basis points. With this move, China's central bank aims to inject around RMB 1 trillion ($142.20 billion) of long-term liquidity into the market.