Iron ore futures on the Dalyan
Commodity Exchange for the week of December 23-30, 2022, increased by 5.1%
compared to the previous week
May iron ore futures on the Dalian
Commodity Exchange for the week of December 23-30, 2022, increased by 5.1%
compared to the previous week – to 863 yuan/t ($124.14/t). Thus, quotations
returned to growth after a slight decline a week earlier. This is evidenced by
the data of Nasdaq.
Iron
ore prices as of December 30, 2022, reached their highest level since June 9 of
the same year – they rose to an almost 7-month high. The price of raw materials
at the end of 2022 has increased by 43% compared to the price in 2021.
January
iron ore futures on the Singapore Exchange increased by 4.9% compared to the
price as of December 23, 2022, – up to $117.15/t.
Iron
ore futures ended a volatile year with gains, fueled by optimism that the top
steelmaker will ease pandemic control measures and economic support.
Iron
ore prices recovered last week from a small drop as traders shrugged off
concerns about China’s rapid spread of the coronavirus infection. At the same
time, by the end of the year, the disease rate should have become the worst in
the last three years.