China: Iron ore spot prices edge up 0.4% ahead of Politburo meeting
Iron ore fines (Fe 62%) spot prices rose 0.4% d-o-d to $107.8/dmt CFR China on 2 Dec. The iron ore market firmed on ample liquidity and upbeat sentiment ahead of the Politburo meeting. Trade activity remains active, with brands finding support on improved margins. Blend fines show the strongest liquidity among medium grades, with fewer post-procurement concerns.