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Iron ore spot prices continue to trend upward, confirming the trend that began in May. The price has surpassed the high seen in 2013 ($130/ton), moving above the $150/ton area.
Demand from China’s steel industry remains strong, with production expected to exceed 1 billion tons in 2020. The construction sector remains a key driver of economic recovery.
Iron ore supplies were impacted by infrastructure maintenance in Western Australia, while Vale lowered its near-term production estimates.
