China data boosts iron ore futures, traders optimistic
NewsTotal shipments from Australia and Brazil – significant iron ore suppliers – decreased by 12.5% week-on-week to 22.08 million tons for the week ending March 18.
High world demand for steel, particularly in China, is bringing riches to the once wornout US iron belt, creating new mega-mergers and seeing 25,000t loads of taconite pellets loaded as far inland as Duluth, Minnesota, for delivery to Chinese ports via the Panama Canal.
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