China: Iron ore spot prices rise by $1/dmt d-o-d
Iron ore fines (Fe 62%) spot prices inched up by $1.35/dmt d-o-d to $106.5/dmt CFR China on 27 Oct amid optimism over global economic recovery. Concerns over sintering and production cuts eased, but uncertainty around talks between an Australian miner and CMRG kept traders divided on medium-grade fines liquidity. Sentiments improved post the US-ASEAN Summit and easing US-China trade tensions, though steel output stayed low.