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Seaborne iron ore prices increased on June 28, 2022, due to easing COVID-19 quarantine measures in China, with the 62% Fe Iron Ore Index rising to $125/dry mt CFR North China. The coking coal market showed mixed sentiments, with steady US met coal prices supported by potential trade with China, while Turkish scrap prices remained stable amid weak finished steel demand. Overall, market participants are cautious as steel mill margins remain negative despite some signs of improved demand.

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