Iron Ore Prices Rise, Supported by Surging Freight Costs and Energy Prices
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Update time : 2026-03-24 16:56:59
Iron ore prices rose during Monday's trading, bolstered by increasing maritime freight costs and energy prices. This comes at a time when other steelmaking inputs recorded significant gains, as several countries moved to book coal shipments to meet energy needs following a global spike in oil and gas prices.
The most-traded iron ore contract for May delivery on China's Dalian Commodity Exchange (DCE) climbed by approximately 0.86%, reaching 818.5 yuan ($118.46) per metric ton, according to CNN.
Steelmaking Inputs and Products
The surge extended to other essential materials and finished products:
Coking Coal: Prices jumped by 10.33%.
Coke: Rose by approximately 6.31%.
Similarly, steel products on the Shanghai Futures Exchange recorded the following gains:
Rebar: Increased by 0.86%.
Hot-Rolled Coil (HRC): Rose by 0.79%.
Wire Rod: Gained 1.37%.
Stainless Steel: Climbed by 1.11%.
