Iron Ore

Iron Ore

Iron ore prices go ballistic as metals boom

A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here. London (CNN Business)As investors place bets on the economic recovery, there's a new frenzy that's taken over markets. Around the world, there's a rush to buy metals. What's happening: China's benchmark iron ore futures rallied an eye-popping 10% to a record high on Monday. "The demand picture in China is very buoyant," Warren Patterson, head of commodities strategy at ING, explained. Outside China, the economic situation is...
Iron Ore

Steel prices hiked by Rs 5,000 a tonne on global rally, iron ore rises too

The last time steel price rose was in Jan when it touched an all-time high. But it came off those highs as China moved into the new year holiday season on pressure from end users in domestic market After a pause, prices of steel and iron ore are on the rise. Steel companies have increased prices by up to Rs 5,000 a tonne beginning April while state-owned iron ore producer, NMDC has hiked prices of lump ore by Rs 500 a tonne. Steel producers said that prices of hot rolled coil – a benchmark for flat...