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A recent Reuters article looked at the seaborne iron ore market and suggests robust demand from China is offsetting weak demand from the rest of Asia and Europe, leaving a largely balanced global seaborne market.
As a result, the article suggests fear over supplies from Brazil is providing price support. The iron ore price hit an 11-month high earlier this month at $112.40/ton, up 39% from a low of $79.60/ton on March 23 at the height of the coronavirus pandemic in Asia.
China’s iron ore imports rise, other countries see