Iron ore prices hit 10-week high in China

Iron ore is once again making an explosive rally that has put it back in a bull market, with prices now trading near $ 66 /t.

Qingdao's 62% iron ore added $ 1.86 a night to $ 65.91, the highest level since early May and 20% more than this year in mid-June.

Today, however, prices are 16% lower as analysts warn of a rise in global production and a seasonal drop in demand in the last quarter of 2017.
China is again responsible for the new upward trend. Since Beijing has stepped up efforts to curb low-grade steel production and thus cut emissions, it has boosted its imports of ore.

Iron ore entering Chinese ports is, in fact, on track to exceed 1 billion metric tons on a convenient margin.