Index for iron ore 62% CFR China increased 7% and again passed USD90 on Monday! The reason is the release of new environmental rules in Tangshan, hub of China steelmaking, in which fewer restrictions will be applied on steelmaking mills and more limitations on iron ore agglomeration and pelletizing!
Purchasing Managers’ Index (PMI) also increased to 50.4 in China, demonstrating steel output growth and consequently more use of iron ore in near future!
