China: Iron ore prices rise by $3/t d-o-d on higher liquidity expectations
Iron ore (Fe 62%) fines spot prices increased by $3.05/t d-o-d to $138/t CFR China on 21 Dec'23 amid strong demand and high liquidity expectations. New deposit interest rate cuts from major state-owned banks may take place which may bring more liquidity to the financial market. Chinese steel mills have been restocking more often before the Chinese holidays by earlier January laycan.