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While The Lindi project differentiates interesting the appetite for steel is unabated...Refractory markets improve the Graphite sector as whole...

• Iron ore is setting new price records after exceeding its 2011 high of $US188 per tonne
• ‘The reality is that steel mill margins are still running incredibly hot, and they are not going to stop producing steel’
• Supply side of the iron ore market caught offside by the run-up in prices and demand

2021 is turning out to be a landmark year for the iron ore market with spot prices this week surpassing their February 2011 high of $US188 per tonne and they could soon reach $US200 per tonne.

At one stage mid-week iron ore spot prices almost hit $US190 per tonne ($245.20/tonne) before slipping back to $US188 per tonne, which is still a new record in Australian currency terms.

“It is worth noting that spot iron ore prices on Wednesday were at the highest level on record in Australian dollar terms,” analysts at Commonwealth Bank of Australia said in a note.

Regards Croc