[pj-news-ticker]

Print Friendly, PDF & Email

Todays News
:

Iron ore exceeds $135/t on futures

Prices, Steel News

Iron ore exceeds $135/t on futures

 

 

 

Iron ore hit a new multi-year high in china after its futures jumped to a record level. Market bullishness was supported by strong steel demand, which ensures high consumption of the raw material.

 

 

Australian iron ore fines 62% Fe soared by $4/t to $136/t CFR, the highest mark since 2013, when the commodity was testing the level of $150/t CFR. Spot prices followed the futures, which posted almost the same daily increase and reached RMB 934/t ($142.35/t), the highest ever.

 

 

The steelmaking ingredient spiked on strong consumption by Chinese steelmakers, who enjoyed high margins, backed by unusually robust demand for finished products.

 

 


 

 

Metal Expert

 

 

Print Friendly, PDF & Email

Post a comment