Iron Ore

Prices for iron ore cargoes with a 63.5% iron content for delivery into Tianjin tumbled to an over two-week low of around $135-per-tonne as renewed coronavirus outbreaks in China sparked fears of lockdowns, dampening demand in the world’s top steel producer. Putting a floor under prices were prospects that China would take steps to support its economy, while production from top exporters Australia and Brazil appear to be below potential. Historically, Iron Ore reached an all time high of 229.50 in May of 2021. Iron ore prices refer to Iron Ore Fine China Import 63.5 percent grade Spot Cost and Freight for the delivery at the Chinese port of Tianjin. Is used to make steel for infrastructure and other construction projects. The biggest producers of iron ore are China, Australia and Brazil. Others include India, Russia, Ukraine and South Africa.

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