DCE: Iron ore closes higher after freight rate increase.

In the evening session this Monday (23), the May contract of iron ore in Dalian Exchange (DCE) It ended with a moderate increase of 0.92%, at 819 yuan (US$118.57) per ton. 

In this trading session, prices for the steelmaking ingredient were driven up by higher maritime freight rates amid a logistical crisis caused by the war in… Middle East.

Furthermore, iron ore inventories fell 0.74% during the week, according to a report by the local consultancy. Steelhome, as a result of the increased production of hot metals.

Meanwhile, the Australia It was hit by the strong tropical cyclone. Narelleon the northeast coast, which fueled fears of a disruption in the supply of industrial raw materials.

This text was translated by machine from Brazilian Portuguese.