MINING.COM Staff Writer | April 23, 2021 | 9:14 am MarketsTop CompaniesChinaLatin AmericaIron Ore
Steel futures in China reached new highs as investors weighed the nation’s commitment to lowering production against its strong demand. (Image:junrong / Shutterstock.com)
Iron ore futures advanced on Friday, on course for a fifth straight week of gains, as anti-pollution steel output curbs in China and strengthening global steel demand propelled prices to record highs.
According to Fastmarkets MB, Benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $186.25 a tonne on Tuesday, up 1.43% from the previous day.
September iron ore on China’s Dalian Commodity Exchange ended daytime trade 1.2% higher at 1,104.50 yuan ($170.11) a tonne. The most-active contract has risen 4.3% this week.
Iron ore price surged to 10-year high this week after Vale, Rio Tinto and BHP released disappointing output figures.
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