Iron ore prices hit six-and-half year highs on Tuesday as Chinese furnaces, where more than half the world’s steel is forged, roll out crude steel at a never before seen pace.
According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $128.57 a tonne on Tuesday, up 5.4% on the day.
That was the highest level for the steelmaking raw materials since January 2014 and brings gains for 2020 to nearly 40%.
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