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The price of iron ore jumped to its highest level since May 20 on Friday, climbing more than 5 percent in a week, MINING.com reported.
The price of iron ore jumped to its highest level since May 20 on Friday, climbing more than 5 percent in a week, MINING.com reported.
As quoted in the market news:
The benchmark import price of 62% iron ore fines at China’s Tianjin port now trades at $122.60 a tonne according to data supplied by The Steelindex.
The strength comes on the back of a rise in the price of Chinese steel. Chinese prices are the most closely watched – the country forges almost as much steel as the rest of the world combined.