Steel raw materials jumped 5.6% to hit $ 75.70 a tonne, close to four-month highs last week, according to data provided by The Steel Index.
The price of iron ore is now trading 43% higher than its 2017 lows of just two months ago, as China's resistance to pollution in heavy industries forces the country's steel companies to push for high-quality imports.
The latest rise in iron ore comes after another fierce day of trading in the markets in China. Last week, regulators raised rates and imposed trade restrictions to dampen speculative activity, which sent prices down for steel, iron ore and coking coal, but rebounded on Thursday.
In Shanghai, rebar futures - the most traded steel contract in the world - rose more than 3%, peaking in more than 4 years, while coking coal futures on the Dalian Exchange rose 8% on the day, reaching a record high ore rose to 7%.
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