Iron Ore Prices Rise, Supported by Surging Freight Costs and Energy Prices

Iron ore prices rose during Monday's trading, bolstered by increasing maritime freight costs and energy prices. This comes at a time when other steelmaking inputs recorded significant gains, as several countries moved to book coal shipments to meet energy needs following a global spike in oil and gas prices.اضافة اعلان

The most-traded iron ore contract for May delivery on China's Dalian Commodity Exchange (DCE) climbed by approximately 0.86%, reaching 818.5 yuan ($118.46) per metric ton, according to CNN.

Steelmaking Inputs and Products
The surge extended to other essential materials and finished products:

Coking Coal: Prices jumped by 10.33%.

Coke: Rose by approximately 6.31%.

Similarly, steel products on the Shanghai Futures Exchange recorded the following gains:

Rebar: Increased by 0.86%.

Hot-Rolled Coil (HRC): Rose by 0.79%.

Wire Rod: Gained 1.37%.

Stainless Steel: Climbed by 1.11%.