Iron ore prices leap to near 10-year high

Steel prices in the country could be in for some upward movement after iron ore prices in the global market have surged to near 10-year highs.

Mining.com website, quoting Fastmarkets MB, said that benchmark 62 per cent iron ore fines shipped into Northern China were traded at $175.05 a tonne cost and freight on Thursday.

The rates were nearly five per cent higher compared to February 17 trade.

The sharp price spike has been attributed to China’s return to the global market after the lunar new year.

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.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Cadence Minerals

More articles like this

Cadence Minerals

Iron ore price jumps

Benchmark iron ore futures in China extended gains for a third straight session, closing at the highest price in five weeks, fuelled by falling supplies from major miners. Shipments from Australia and Brazil — China’s two major iron ore suppliers

Cadence Minerals

China’s record steel futures boost iron ore prices

Iron ore prices rose on Wednesday, as record steel prices in China prompted investors to make tentative bets, despite production cuts in the country’s steelmaking hub that have clouded the demand outlook for the raw material. According to Fastmarkets MB,

Cadence Minerals

Iron ore prices to stay high on strong steel output

High iron ore prices are tipped to continue into Q2, supported by rising steel production and reduced steel inventories, according to the latest S&P Global Platts Iron Ore & Steel Outlook. Some 61% of participants said iron ore