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Iron ore price bounces back on strong demand and shipment doubts – MINING.COM – MINING.com
High rain volumes at major ports will continue to represent a challenge for Brazilian players during 1Q.
Capacity utilization rates at 247 furnaces across China rose to 92.19% on February 19, from 90.94% before the Lunar New Year holiday.
Lower shipments from Brazil are supportive of iron ore prices, according to Brazilian XP Investimentos. In the week ended on February 21, Brazilian shipments decreased 8% WoW (5.5 tonne), following heavy rain in the north of the country.
The daily index for iron ore 65% Fe Brazil rose 1%, to $200 a tonne on Monday, an all-time high.
“High rain volumes at major ports…
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