China's commodity prices rose dramatically 49 minutes ago [IMG]...

China's commodity prices rose dramatically

49 minutes ago

China has become a major consumer and supplier of steel production in China and coking coal and iron ore prices have been rising rapidly. As of Friday, the price of one tonne iron ore in the Dalian stock exchange reached the 22-month high of 92.46 dollars, or 623 yuan. Iron ore prices have risen by 20% this year. Some analysts say that the growth rate of the first-ever supply-side "Vale" has been downgraded, analysts say, ANZ bank may have a supply shortage this year, as price rises.
As for coking coal, prices have also risen for several reasons. For example, the customs inspection has been delayed on the coastal ports of northeastern China, resulting in a series of vessels loaded with coal and iron ore. This situation has caused producers of steel to worry about supply.
Also, the two sides are negotiating with the two sides to finalize the US-China trade war, highlighting the prospect of better commodity demand. The two sides have reached a common understanding of March 1 and have to end the dispute.
These data were mainly attributed to the coking coal price at the DTI, the highest level in the last 17 months, or 1290 yuan / tonne. As steel prices rise, coke and steel prices rise in the Chinese market.