The iron ore price surged Tuesday on expectations a recovery in economic growth, including additional support from the Chinese government, will boost demand for steel.
According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $146.13 a tonne, up 7.3% from Monday’s closing.
The most-traded Dalian iron ore contract for January 2022 delivery jumped 6.2% to 817.50 yuan a tonne, bouncing off a 7-1/2 month low hit on Friday.
Cadence Minerals plc (LON:KDNC) provides mining services. The Company focuses on finding lithium and other technology minerals in new places, as well as offers extracting services.