China: Spot iron ore price rise by $1.6/t d-o-d despite thin trading
Iron ore (Fe 62%) fines spot prices rose by $1.6/t d-o-d to $140.50/t CFR China on 29 Dec'23 on favourable indications from China that restored market confidence as the execution of monetary indications, despite thin trade activities. According to China's central bank, the structural functions of monetary policy instruments should be utilised, together with initiatives to increase domestic demand, and promote a positive economic cycle.