Xinhua-China Iron Ore Price Index for 62% import ore down three points

Friday, 29 March 2019 10:19:44 (GMT+3)   |   Shanghai
       

As of March 25, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 85 points, down three points from March 18. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 76 points on the date in question, down four points over the same period, as announced by China's Xinhua News Agency.

On March 19, Vale announced that it has received court approval to resume operations at the Brucutu mine and Laranijeiras’ tailings dam, which exerted a negative impact on import iron ore prices due to the anticipated increase in supply volumes, resulting in sharp decreases in import iron ore prices on March 20. However, China’s real estate investments rose by 11.6 percent in the January-February period of the year, indicating better demand for finished steel, with this news contributing to rises in import iron ore prices in the latter part of the given week. It is expected that import iron ore prices in the Chinese market will edge up in the coming week.


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