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