Agence Ecofin TikTok Agence Ecofin Youtube Agence WhatsApp

Mining

Iron prices surge 17% since beginning of 2017, after 75% increase in 2016

Thursday, 02 March 2017 11:26

(Ecofin Agency) - After recording a surprising 75% growth in 2016, prices of iron keep up the trend.

Indeed, on Feb.21, a ton of iron traded at $94 on the Qingdao stock market in China, thus a 17% surge since the beginning of 2017. Its highest level since 2014.

The increase was mainly due to the rise of steel’s price paired with a strong Chinese demand.

The price surge drove many mining firms including Brazilian Vale and British Anglo American, to halt the sales processes for some of their iron deposits.

Vale has even started exploiting a mine in Brazil for a $14 billion investment.





 
Finance


 
Telecom


 
Public Management


ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

AGENCE ECOFIN
Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

EDITORIAL TEAM
redaction@agenceecofin.com

ADVERTISING SALES
Benjamin FLAUX
bf@agenceecofin.com
Tél: +41 22 301 96 11
Mob: +41 78 699 13 72

 

Please publish modules in offcanvas position.