Iron ore price improved on Wednesday amid higher trading activity, though supply concerns for both short- and long-term continued to ease. Australian iron ore fines 62% Fe rebounded by $3.65/t to $152.5/t CFR after the previous day’s plunge to almost two-month low as reduced prices spurred buying by steel mills. “The price below $150/t CFR [for iron ore] is quite attractive for customers, though most steelmakers have already bought the volumes they needed,” a Chinese trader told Metal Expert.
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