The Iron ore price rebounded on Tuesday from a seven-month low after data showed China’s imports in August picked up for the first time in five months, rising 10.1% over July.
China imported iron ore worth a record $20 billion in August, despite steel production curbs in the world’s largest producer. Total volumes were 97.5 million tonnes.
According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $137.97 a tonne, up 4.2% from Monday’s closing.
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.