After bottoming out in early November because of concerns over aggressive interest rate hikes by the Federal Reserve and ever-tightening Covid restrictions in China, iron-ore prices have been recovering recently.
This resurgence is being driven by the softening stance of the Chinese leadership on its Covid restrictions in the wake of rare and massive protests. Sentiments have been further boosted by news of a rescue package for ailing Chinese developers to ease their liquidity strains and revive home purchases.
