Iron ore futures in China rose in early trade on January 6 as weekly utilisation rate increased, pointing to firm demand for the steelmaking ingredient.
Utilisation rate at 247 steel mills across China rose to 78.40% last week from 76.89% a week earlier, data showed.
The most-traded iron ore futures contract on the Dalian Commodity Exchange for May 2020 delivery jumped as much as 0.8% to 668 yuan/t ($95.79/t). It was up 0.2% at 665 yuan/t by 0229 GMT.
Benchmark spot cargoes of iron ore with 62% iron content for delivery to China jumped for a second session to $94.5/t on January 3.
Other steelmaking raw materials also rose, with Dalian coking coal inching up 0.1% to 1,179 yuan/t and Dalian coke gaining 0.2% to 1,873 yuan/t.
Source:sxcoal
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