Supply crunch keeps iron ore prices at historic highs
Lack of new sources of production likely to keep demand greater than supply
26 May 2021 - 17:45
Despite a few ups and down, iron ore prices remain at levels that defy belief and, with a supply deficit expected to persist for the foreseeable future, there appears to be no end in sight.
The bulk product, a critical component in steel making, has in 2021 seen a spectacular price rise to beyond $220 a tonne from $80 a tonne a year ago. In recent days its softened to $190 after China threatened to crack down on price gouging in the market...
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