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Iron ore rises on high demand

Iron ore price continued to follow an uptrend on Tuesday, since positive market moods were supported by improved trading activity in the seaborne market.

Australian iron ore fines 62% Fe went up by $1.5/t to $116.75/t CFR, following an RMB 17/t ($2.4/t) rise in September contracts on the DCE.

Optimistic sentiment spurred seaborne buying activity amid hopes for steel demand. Chinese customers booked 620,000 t in total on trading platforms on August 4.

However, global supply growth continues to cast a shadow on iron ore market outlook. Brazil raw material exports rose by 13% m-o-m to 33.99 million t in July, only 0.9% lower in yearly comparison, the country’s official data showed. Arrivals to China’s main ports added 8.5% last week, reaching 13.95 million t, according to Steelhome.


 

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About AISU

Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

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17 Country

300.000 Employees

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