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Reuters reported iron ore rose for a seventh straight day making for the longest gain since November as China’s steel mills rebuild stockpiles for the expected construction season.
Reuters reported iron ore rose for a seventh straight day making for the longest gain since November as China’s steel mills rebuild stockpiles for the expected construction season.
As quoted in the market news:
Sellers of imported iron ore in China lifted offer prices further on Wednesday by another dollar per tonne, raising them by $4-$5 since last Friday, based on data from Chinese consultancy Umetal.
Iron ore with 62 percent iron content rose 1.8 percent to $143 a tonne on Tuesday, according to Steel Index, its priciest since Feb. 8.