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Iron Ore Prices Surge on China’s Cut in Reserve Ratio Requirement

Iron Ore Prices Surge on China’s Cut in Reserve Ratio Requirement

While the broader surge in commodities helped iron ore prices, China’s (FXI)(MCHI) surprise cut in its reserve ratio requirement (or RRR) for some Chinese lenders from the People’s Bank of China led to price gains in iron ore. This move is expected to improve the liquidity in the system, boosting economic activity.