China: Iron ore spot prices inch up $1/dmt d-o-d
Iron ore fines (Fe 62%) spot prices edged up by $0.9/t to $106.4/dmt CFR China on 10 Dec. Sentiment improved on talk of a real estate subsidy package, though the rumoured stimulus had little impact on spot activity. Trading volumes remained thin as mills held back from replenishment after the sharp price rise, awaiting clearer market direction and price clarity.