Iron ore prices stayed clear of double digits on Monday on shrinking stockpiles in China, responsible for more than 70% of the world’s seaborne iron ore trade, and persistent fears about supply from Brazil, the globe’s no.2 supplier.
According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were exchanging hands for $100.45 a tonne on Monday, just off the 9-month highs last week.
On the Dalian commodities exchanges, iron ore futures set a fresh record high of $108.92 a tonne, up more 20% from early April. Dalian launched iron ore futures trading in 2013.
KEFI Minerals plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.