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Iron ore price rockets to highest since January 2014 – MINING.COM – MINING.com
China’s $680 billion post-pandemic splurge on infrastructure sparks record steel output and soaring iron ore price.
Iron ore prices hit six-and-half year highs on Tuesday as Chinese furnaces, where more than half the worlds steel is forged, roll out crude steel at a never before seen pace.
According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $128.57 a tonne on Tuesday, up 5.4% on the day.
That was the highest level for the steelmaking raw materials since January 2014 and brings gains for 2020 to nearly 40%.
China produced 93.4m tonnes of crude steel in J…
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