Benchmark iron ore futures in China gained for a fourth straight week. Iron ore prices have taken a hammering since the Chinese zero Covid policy however it has steadily risen since November lows. Prices for the most actively traded iron ore futures on the Dalian Commodity Exchange for iron ore cargoes with a 63.5% iron ore content for delivery into Tianjin rose to $110 Friday, the highest since mid-August. Analysts were anticipating demand for iron ore to collapse as China … Continue reading “Iron Ore Prices Hit Four Month High on Zero Covid Easing & China’s Property Curve”
Iron Ore Prices Rise Pre-emptively on Easing Along China’s Property Curve
Iron ore had the bears out in full force just a month or so ago, with the China attempt to “destroy Australia”, the shipping crisis and more. Analysts were anticipating demand for iron ore to collapse as China reduced its steel production. Targets were lowered to US$65 to $85 a tonne by many of the larger groups. Here we are the most actively traded iron ore futures on the Dalian Commodity Exchange for May delivery closed 3.9% higher at 714 … Continue reading “Iron Ore Prices Rise Pre-emptively on Easing Along China’s Property Curve”