China: Iron ore spot prices rise by $1/t d-o-d
Iron ore fines (Fe 62%) spot prices increased d-o-d by $1.10/t d-o-d to $104.15/t CFR China on 17 Jan'25 amid improved market sentiment driven by expectations of supportive macroeconomic policy announcements ahead of the Lunar New Year, coupled with a slight recovery in Chinese downstream steel margins. The buoyancy in steel margins created upward pressure on iron ore demand, sustaining price strength.