Chinese Spot Iron Ore Prices Up By 1.7%

Bloomberg reported that cash prices of iron ore imported by China, the world’s biggest buyer of the steelmaking ingredient, rose for a fourth week gaining 1.7% after the government announced a CNY 4 trillion stimulus package. According to Beijing Antaike information development coporation prices at Qingdao China’s biggest iron ore port, advanced to CNY 610 a tonne. Prices gained 13% in November....more at China News

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