“Stronger margins, along with more focus on reducing emissions, has also proved supportive for higher-grade iron ore demand.
This is reflected in the quality premium, which has widened recently,” Patterson said.“Despite talk of nationwide inspections, we believe other regions will ramp up, particularly given the spike in steel margins,” JPMorgan analyst Lyndon Fagan said.
According to IndexBox, global steel consumption is forecast to increase in 2021 by 4.1% year-on-year.
Prices have also been fueled by falling supplies from major miners.
Bodes very well for the likes of MGX & FEX (their quarterly reports scheduled by 21/04 & 29/04 respectively)
https://www.mining.com/iron-ore-price-hit-10-year-high-on-rising-steel-demand/
