China: Iron ore spot prices rise by $2/t d-o-d amid favourable macroeconomic news
Iron ore fines (Fe 62%) spot prices increased by $1.60/t d-o-d to $99.20/t CFR China on 13 Jan'25, driven by optimism over favourable CY'25 policies hinted at by China's Ministry of Finance. This improved market sentiment for industrial products, even without specific policies being announced. However, cautious trading ahead of the Lunar New Year and decreased activity capped the price hike, with restocking almost completed.