Internationally Prices Of Iron Ore RacksUp High Due To Higher Demand

Iron Ore: Prices for iron ore cargoes with a 63.5% iron content for delivery into Tianjin were around $150 per tonne, on higher demand.

After steelmakers resumed production and transport and logistics were unclogged with China keeping dynamic zero-COVID while pushing for supply chain resilience as part of a functioning economy.

The latest data showed capacity utilization rates of blast furnaces at 247 steel plants across China rose and are now at the highest since late-July 2021. Also, China’s state planner approved 32 fixed-asset investment projects worth 520 billion yuan this year.