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Iron ore prices are going ballistic – MINING.COM – MINING.com
Iron ore surges 6% to March 2013 high on Friday as Brazil supply worries, a red hot China economy, and a Beijing-Canberra row convulse seaborne trade.
That was the highest level for the steelmaking raw material since March 2013 and brings gains for 2020 to over 57%.
Prices for 65% fines imported from Brazil are also in high demand, jumping to $157.00 per tonne on Friday, with both grades up more than 20% just over the last month.
Source: Fastmarkets MB
The frenzy for ore was also evident on domestic futures markets after the contract hit a record high of 974 yuan ($149 a tonne), forcing China’s Dalian Commodity Exchange to issue a warning to…
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