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FIS Daily Ferrous Report: DCE at record high since 2013
DCE closed at RMB 831 a tonne, up RMB 31 or 3.88% on-day, a record-high since China’s iron ore futures trading started in 2013.
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Freight rates get a boost from Brucutu mine restart
Market sentiment for Capesize rates saw an improvement after Vale’s announcement to restart Brucutu mine, bringing back around 30 million mt per year of iron ore to the market.
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The Rush for Iron Ore
The rush for iron ore is on and has since pushed prices toward the ‘three digits’ mark amid fears of tight supply from Vale.
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