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Reuters reported iron ore imports to China in May were up about 10% from April with continued steel demand supporting the raw material.
Reuters reported iron ore imports to China in May were up about 10% from April with continued steel demand supporting the raw material.
As quoted in the market news:
China’s strong steel output sustained its demand for imported iron ore, with the world’s No. 1 buyer importing 63.84 million tonnes in May, up 10.7 percent from April.
There was limited physical activity in the iron ore market at the start of the week, after benchmark 62-percent grade ore gained 0.6 percent to $131.40 a tonne on Friday.