Iron ore futures rise 50% in just three weeks

Iron ore futures are up 50% in just three weeks, reinforcing inflation fears that are spreading around the world.

The rise in iron ore prices – which has jumped 16% this month – is likely to reduce profit margins for steel mills, which are unable to transfer higher costs to sectors such as real estate and construction.

According to Bloomberg, Citigroup expects metal and steel prices to stop rising given the looming demand shock from China’s energy rationing in sectors such as construction and manufacturing.

In today’s trading, iron ore contracts traded in Singapore rose 10%, and futures contracts in Dalian closed 4.6% higher.


Share on twitter
Share on facebook

Related News


Latest News

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.

Information About Union

92 Members

28 Board of Directors

17 Country

300.000 Employees

Subscribe Newsletter

Contact us

General Secretariat
Tel +21323304221 Fax +21323304254
Mail: relex@solbarab.org

Cairo Regional Office
Tel +20233356219 Fax +20233374790
Mail: aisucairo@solbarab.org

All rights reserved Arab Iron and Steel Union | 1971 - 2022

Powered by Mohamed Hamed