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30 May

Iron ore recovers further as pessimism fades

Iron ore prices have extended their recovery as China, and in particular Shanghai, moves closer to reopening post Covid-19 lockdowns. New Covid outbreaks could send reopening into reverse at any time, but with sentiment at rock bottom, any improvement could support further price increases. The Kallanish KORE 62% Fe index increased $2.94/t to $136.32/dry metric tonne cfr Qingdao. The Kallanish KORE 65% Fe index gained $2.71/t to $159.99/dmt cfr, and the KORE 58% Fe…
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