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Iron ore pricing strengthens as supply and demand balance tightens
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Iron ore pricing strengthens as supply and demand balance tightens
Iron ore prices have strengthened in May, supported by renewed buying activity, firm steel production and tighter availability of higher-grade material. By mid-month, benchmark 62% Fe ore delivered to Qingdao had reached $114.7 per tonne CFR, up 3.9% since the start of May. Restocking by steelmakers, improved mill margins and high pig iron output have helped lift demand for raw materials. Limited availability of premium ore has also added suppor…
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