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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