Industry News

China iron ore price surges to highest since August on improving consumption

Views : 159
Update time : 2022-04-07 20:33:36

Iron ore futures in China jumped 4% on Wednesday, hitting their highest level in more than eight months, as trading resumed after the Tomb Sweeping Festival holidays.

The most-active iron ore futures on the Dalian Commodity Exchange, for September delivery, rose as much as 4.1% to 945 yuan ($148.49) per tonne, as demand at steel producers recovered from pandemic disruptions.

“Currently, the sluggish property market in China has dented steel and iron ore consumption… but iron ore destocking has started,” analysts with Huatai Futures wrote in a note.

According to SteelHome, portside iron ore inventories in China were at 155.6 million tonnes in the week ended April 1, down by 4 million tonnes from a week earlier and 3.3% from the peak in mid-February.

Related News
Read More >>
Ball Corporation confirms US aluminium tariff impact on its Q1 2025 net earnings despite improved shipments Ball Corporation confirms US aluminium tariff impact on its Q1 2025 net earnings despite improved shipments
May .08.2025
Ball Corporation confirms US aluminium tariff impact on its Q1 2025 net earnings despite improved shipments
India proposes tariff reductions on US imports India proposes tariff reductions on US imports
May .08.2025
India proposes tariff reductions on US imports
ArcelorMittal & WOLF GmbH partner for low carbon-emissions steel in HVAC industry ArcelorMittal & WOLF GmbH partner for low carbon-emissions steel in HVAC industry
May .08.2025
ArcelorMittal & WOLF GmbH partner for low carbon-emissions steel in HVAC industry
India issues new quality control order on 17 categories of aluminum products India issues new quality control order on 17 categories of aluminum products
May .08.2025
India issues new quality control order on 17 categories of aluminum products