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Iron ore price keeps increasing to $133 level
Issued at 2023-12-10
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The price of iron ore increased further to a level above US$133, a new high in the past ten days. As China's steel price remained strong, crude steel production also rose in November. As a result, customer's purchases will be better than in the previous period.
However, the demand is still low and customer's purchase is conservative. Market participants said that China's steel price might remain stable and not easily increase or decrease too much in the short term.
However, the demand is still low and customer's purchase is conservative. Market participants said that China's steel price might remain stable and not easily increase or decrease too much in the short term.
Source: Yieh
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