Steel prices soar as global recovery drives iron ore demand
Demand expected to grow 5.8% on state infrastructure plans and ramp-up of manufacturing and construction
27 April 2021 - 16:46
Steel prices are spiking from Asia to North America, and iron ore’s relentless march towards a record is accelerating, as bets on a global economic recovery fuel frenzied demand.
The world outside China is finally catching up with the Asian steel giant’s already strong markets as a global rebound drives a powerful wave of buying that cannot be matched by production. Sectors such as manufacturing and construction are ramping up and governments have pledged to splurge on infrastructure as they map their postpandemic path back to growth...
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