Iron ore prices edge higher in holiday-impacted trade

GREG BAKER / AFP / Getty Images

Iron ore spot markets were near static on Monday, devoid of any significant market activity due to a public holiday in China.

Movement was limited in scale, but there was a small pop in the benchmark price following a shellacking on Friday.

Metal Bulletin said that the price for benchmark 62% fines rose by 1% to $58.50 a tonne, recouping around a quarter of the near 4% plunge recorded in the previous session.

Elsewhere the movements were small, if not nonexistent.

That looks set to remain the prevailing theme today with Chinese markets yet again closed for a public holiday.

Market activity should begin to pick up on Wednesday as Chinese futures — often influential on spot price movements — reopen following a four-day break.

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