Iron ore is having a strong start to the year, with rising prices and robust imports by China, sparked by optimism the world’s largest buyer of the steel raw material is adding enough stimulus to boost demand.
The optimism in the past week has consigned China’s soft steel production data for December to memory, with both sentiment and fundamentals supporting the iron ore market.
Iron ore contracts traded in Singapore ended at $135.31 a metric ton on Jan. 26, posting a weekly increase after declining for the two previous weeks.
Alien Metals Ltd (LON:UFO) is a global minerals exploration and development company that will shortly make the transition to iron ore producer. The company was formed from Arian Silver in late 2018, retaining some of the companies more valuable Mexican projects before embarking on an acquisition led strategy, headed up by an excellent geological team and targeted entirely on Western Australia.