Iron ore rises as China widens import curbs on Fortescue and dip buyers return

Iron ore prices rose after China's state-backed buyer expanded import curbs on Australia's Fortescue, tightening perceived supply at the margin. The move adds policy-driven uncertainty to seaborne iron ore flows, while two months of declines have triggered dip-buying and short-covering. Near-term pricing may stay sensitive to further procurement restrictions and restocking signals from Chinese steel supply chains.