Iron ore prices rise after China cuts bank reserve requirement ratio to boost liquidity
Seaborne iron ore prices increased on Friday March 17 after China’s central bank announced it would cut the amount banks need to hold in reserve - the reserve requirement ratio (RRR) - by 25 basis points from March 27, sources told Fastmarkets.
Key drivers
The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) was higher on Friday from the previous day's closing price of 902.00 yuan ($131) per...
