Global iron ore prices have taken a long jump today. Prices are assessed at USD 87/MT, CFR China on 10 Feb’17. Iron ore prices rose on bullish sentiments.
Boosting demand for steel after China returned from Lunar New year Holidays have made global iron ore prices to shoot up. In addition, construction activity also resumed in China.
There is continuous gain in billet & rebar market which made steel futures to move up. Today, Tangshan billet prices moved up by RMB 60/MT (USD 8/MT) and
In addition, recently released China iron ore imports data that records 2nd highest since 2012 also supported prices to move up.
Investors in the iron ore market expect economic data in the coming weeks to show the world’s second-largest economy got off to a good start in 2017. Bullish sentiments made iron ore prices to move up by USD 4/MT in a day. 
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