Iron ore rose for the sixth consecutive trading day, selling at over US$100 per ton

Author:admin source:本站 release time:2020-06-09 07:33:13 Pageviews:250

Optimism about the rapid recovery of Chinese demand, coupled with concerns about Brazil's iron ore supply, pushed iron ore prices into a three-digit era on Wednesday. China's iron ore demand accounts for more than half of the world, while Brazil is the world's second largest supplier of iron ore.

According to data from market research firm Fastmarkets MB, the price of 62% iron-bearing iron ore imported from northern China on Wednesday was US$96.95 per ton, slightly lower than the 9-month high touched on Tuesday. On the Dalian Commodity Exchange, iron ore futures prices rose for the sixth consecutive trading day to US$107 per ton, a 20% increase from the beginning of April.

Since the beginning of this year, iron ore prices have been expected by China to invest heavily in infrastructure and construction to revive the economy destroyed by the coronavirus. China accounts for more than 70% of global seaborne iron ore trade.

Australia’s Financial Review quoted UBS Group’s global mining director Glyn Lawcock as saying that the decline in port inventories and the rebound in Chinese steel mill output supported iron ore prices, but concerns about Brazil’s supply are the main reason for the recent rise in iron ore prices. the reason.

Lawcock pointed out, "Last year Brazil exported about 350 million tons of iron ore, which is 6.5 million tons per week. But this year, Brazil only shipped more than 6 million tons in one week. In the past three weeks, they Of exports are less than 4.5 million tons."

He added, “Everyone is asking, what’s wrong with Brazil? If you put it in the first quarter, you might be able to blame the weather and the rainy season, but now the weather is no longer a problem. The number of people with new crown infections in Brazil is now the highest in the world Fourth, it's still upgrading. So I think it's a drop in production caused by the shutdown. After all, mining cannot be done through home and remote work."

Previous：What should I do if the vibration is large during the cone breaking operation?

Next：Brazil’s May iron ore exports fell 28% from the same period last year

国产精品A片I一区精品在线I欧美精品久久久久I亚洲老汉色I色婷婷综合成人avI91三级片在线观看I91美女一区二区三区I91AV无码I久久久久国产精品一区二区

Iron ore rose for the sixth consecutive trading day, selling at over US$100 per ton

Related news recommendation

Phoenix Mobile Crushing Station exports to Laos

Phoenix crushing and screening equipment helps Gui···

Brazil’s May iron ore exports fell 28% from the sa···

Brazil’s May iron ore exports fell 28% from the sa···

Iron ore rose for the sixth consecutive trading da···

Daily industry news feed (2020.06.16)