Iron Ore Rises $1 a Tonne

Reuters reported iron ore and rebar rose on hopes China’s steel demand will increase coming into the construction season.

As quoted in the market news:

Sellers of imported iron ore in China lifted prices on Monday by at least a dollar per tonne, betting demand will continue to pick up.

Australian 63-grade Newman iron ore fines were quoted at $141-$143 a tonne and 61.5-grade MAC fines at $137-$139, while Brazilian 65-grade material were offered at $150-$152, said Chinese consultancy Umetal. All prices include freight costs.

Click here to read the full Reuters report.