China: Iron ore spot prices continue to rise amid strong downstream market
Iron ore fines (Fe 62%) spot prices rose by $1.70/t to $98.05/t CFR China d-o-d on 26 Sep'24 amid positive macroeconomic developments in China. Especially, the People's Bank of China's recent stimulus measures and President Xi Jinping's pledge for fiscal support during a Politburo meeting, have significantly boosted market sentiment.