Dalian iron ore futures rose on Thursday as key supplier Australia began preparing for a potential tropical cyclone, while worries over rising coronavirus cases in China weighed on prices of the steelmaking raw material in Singapore. The most-active May iron ore contract on China’s Dalian Commodity Exchange ended a volatile morning session 0.7% higher at .
This morning in metals news: the United States Trade Representative released its annually mandated report covering the WTO rules compliance of China and
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This morning in metals news: U.S. import prices rose slightly in November, according to the Bureau of Labor Statistics; the Pilbara Ports Authority reported November shipping data; and, finally, there is speculation the U.S. could reimpose sanctions on Russian aluminum giant
Rusal, Bloomberg reported.
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Import prices rise in November
Higher fuel prices made imports more expensive last month.
“Prices for import fuel increased 4.3 percent in November following a 0.9-percent decline in October and a 4.7-percent drop in September,” the BLS reported. “Higher prices for both natural gas and petroleum contributed to the November advance.”
Supportive of the already surging iron ore price, the Pilbara Ports Authority cleared the Port of Port Hedland on Thursday amid incoming gale force winds.