China: Iron ore spot prices rise by over $1/t d-o-d in recent trading activities

China's iron ore fines (Fe 62%) spot prices increased by $1.40/t d-o-d to $106/t CFR on 16 Dec'24, driven by renewed market activity. Some mills resold cargoes, as restocking was complete. Increased time-spread trading contributed to variations in inter-month traded levels due to a widening paper market spread. Additionally, participants are monitoring potential supply tightness due to heavy rains in Australia.