Iron ore prices hit over six-year high on tight supply

摘要

Singapore—The seaborne iron ore price hit more than six-year high Aug. 18, due to supply shortness of medium grade fines and a strong demand recovery in China post-pandemic. S&P Global Platts assessed the 62% Fe Iron Ore Fines Index at $127.60/dry mt Aug. 18, the highest since January 2014. Production disruptions in Brazil in the first half of 2020 due to the extended monsoon season and COVID-19-related precautionary measures weighed on the overall supply of iron ore fines.