The iron ore forward curve rose throughJanuary, buoyed by firmer iron ore spotprices and bullish expectations for the postChinese New Year market, which was furthersupported by strong steel prices and futures,and another positive China manufacturingPMI. Forward values shed close to $5/mt onthe first day back after the holiday periodas the Chinese domestic futures marketstanked on open. The rout was short-lived,however. As spot prices rose, supported bya surge in steel prices in China going intoFebruary, the front months of the forwardcurve gained $5/mt or more.
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