Iron Ore Futures Spike to a 15-Week High as Inventory Drops Across China

May 18, 2020 04:36 PM AEST
Team Kalkine

Iron ore futures on the Dalian Commodity Exchange (or DCE) surges to a 15-week peak to mark a high of RMB 775.5.

The decline of 1.14 per cent in the weekly port stock across China supported the price.
The inventory stood at 101.79 million metric tonnes for the period ended 15 May 2020, lowest since December 2016.
While the iron ore inventory is witnessing some supply pressure, the rebar and HRC steel inventory across China is showing an accelerated decline and improvement in prices.

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