Increased Steel Output Means Higher Iron Ore Prices

Reuters reported as Shanghai steel futures continued to fall iron ore continued to rise.

As quoted in the market news:

Iron ore prices continued rising to their highest in more than five months, as miners bet on strong steel production in China, the world’s top buyer.

Iron ore with 62 percent iron content .IO62-CNI=SI climbed for a sixth day in seven on Wednesday, gaining 0.4 percent to $147.7 a tonne, a level last seen on Oct.19, according to the Steel Index.

Click here to read the full Reuters report.