Page 3 - Erik Hedborg News Today : Breaking News, Live Updates & Top Stories | Vimarsana

China iron ore futures plunge after record-setting rally May 14, 2021 – 3.22am Save Share Beijing | Ferrous prices in China fell on Thursday, led by benchmark iron ore that plunged as much as 9.5 per cent as market participants paused after a super rally that sent prices to historical highs over the past few days. The most actively traded iron ore on the Dalian Commodity Exchange, for September delivery, closed down 7.5 per cent at 1217 yuan ($US188.66) per tonne, after touching 1190 yuan earlier in the session. The decline snapped a five-session rally. Dalian iron ore prices in May had ...

Slightly lower valuations may indicate shares still have upside.

Iron ore prices hit new record Champion Iron CEO David Cataford (pointing) in the processing plant at the Bloom Lake iron ore mine in Quebec. Credit: Champion Iron The price for iron ore surged to a record US$237.57 per tonne today as strong Chinese demand continued to outpace supply. The record price levels are supported by a continued supply squeeze, with major iron ore producers reporting seasonally lower output in the March quarter, and growing concern over the escalating Covid-19 crisis in India, which could impact the country’s exports of the metal. “These factors, along with a reco...

“High iron ore prices in early 2021 are unsustainable, but market fundamentals remain strong," says Moody’s senior VP Barbara Mattos.

China moves to cool rally as iron ore prices explode Train carrying iron ore. Stock Image. China’s commodity exchanges on Monday moved to raise trading limits and margin requirements for some iron ore contracts and reinstated fees on steel futures as a blistering rally in the ferrous metals complex showed no signs of abating. Benchmark 62% Fe fines imported into Northern China (CFR Qingdao) hit a new high on Monday, changing hands for $230.56 a tonne, up 8.62% from Friday session, according to Fastmarkets MB. Sign Up for the Iron Ore Digest Sign Up The high-grade Brazilian index (65% Fe...