Cash prices for iron ore delivered to China, the world’s biggest buyer, traded above $90 a metric ton for the first time this year amid rising imports by the Asian nation.
Ore for immediate delivery rose 4.6 percent to $91 a metric ton in the week ended July 17, according to Metal Bulletin prices for 63.5 percent ore. That’s the highest since Oct. 10, 2008. The price for 62 percent ore rose 1.4 percent to $82.80 a ton, according to Steel Business Briefing prices.
Source: Bloomberg
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