Iron ore breaks $100 mark on positioning shift and demand hopes (SCO:COM:Commodity)
8 Articles
8 Articles
Iron ore prices also gained value on the third trading day, driven by the expectation that steel producers in China will increase their inventories ahead of the upcoming National Day holiday and the impact of rising freight costs. Prices on the Dalian and Singapore exchanges rose to the highest levels seen since July.
Iron ore prices rose for a third consecutive trading day, driven by increasing transportation costs and expectations of increased pre-holiday stockpiling in China. Dalian and Singapore exchanges saw their highest levels since July, with the benchmark Singapore contract holding above the $100 mark.
Iron ore prices exceeded $100 per ton for the first time in seven weeks, supported by the closure of traders' bets that preferred coke over iron ore, along with prospects for restocking in China before official holidays and rising shipping costs. The future contracts for Singapore's steel industry raw material rose by 1.6% at $101.10 [..] an iron ore price exceeding $100 per ton in Singapore written in the Stock Exchange.
The price of iron ore exceeded $100 per ton for the first time in seven weeks. Expectations that China will restock ahead of the holidays, as well as high transportation costs, provided additional support for prices. Futures contracts for this raw material for steel production rose 1.6 percent in Singapore, to $101.10 per...
Prices reach highest level since July 2 Iron ore futures contracts traded in Singapore rose by up to 1.6% during the day, reaching $101.10. Thus, prices reached their highest level since July 2...
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