This week, iron ore prices have experienced an upward trend due...

This week, iron ore prices have experienced an upward trend due to several key factors:1. Supply Disruptions in Australia: Tropical cyclones in Western Australia have significantly impacted iron ore shipments. Companies like Rio Tinto have had to clear vessels from ports such as Cape Lambert and Dampier to ensure safety, leading to concerns over reduced supply. 2. Recovering Demand in China: Post-Lunar New Year, there’s been a noticeable uptick in demand from Chinese steelmakers. Data indicates that the average daily hot metal output among surveyed steelmakers rose by 1.3% to 2.28 million tons as of February 5, signaling a rebound in production activities. 3. Market Optimism Amidst Global Trade Concerns: Despite uncertainties stemming from new U.S. tariffs on steel and aluminum imports, the market remains optimistic. Investors are hopeful that Chinas anticipated economic stimulus measures will bolster demand, contributing to the resilience in iron ore prices. These combined factors have led to a notable increase in iron ore prices this week.