The price of iron ore for September delivery on the Dalian Commodity Exchange increased by more than 3.3% to 897 CNY/ton. Bar steel prices increased 1.7%, while hot rolled coil increased 0.6%, stainless steel decreased 0.8%.
Dalian iron ore prices rose on Thursday (March 31), driving their biggest quarterly gain since late 2020, while iron ore prices on the Singapore exchange hovered around the $160 mark as traders It is expected that there will be additional supportive policies to boost the Chinese economy.
Besides, the price of steelmaking raw materials got more profit when Beijing announced that it will introduce policies to stabilize the economy as soon as possible to reduce downward pressure due to the increase of COVID-19 in the near future. water and external influences.
China – The world’s largest steel producer is prepared to confront possible uncertainties affecting the development of the economy, this is a statement during a meeting of the State Council chaired by Prime Minister Li. Khac Cuong chaired.
The price of iron ore for September delivery on the Dalian Commodity Exchange – China increased more than 3.3% to 897 CNY (equivalent to 141.43 USD)/ton, after touching 912.50 CNY/ton. earlier, the highest since August 6.
On the Singapore Exchange, iron ore contracts traded in May 2022 increased 1% to 161.65 USD/ton.
Spot iron ore prices in China traded at $155 a tonne on Wednesday, up 27% this year, based on data from consulting firm SteelHome.

On the Shanghai trading floor, the price of bar steel increased 1.7%, while hot rolled coil increased 0.6%, stainless steel decreased 0.8%.
On the Dalian bourse, the price of coking coal rose 0.8% and coking coal rose 2.8%.

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