DCE: Iron ore closes higher after increase in ocean freight rates.

In the evening session this Tuesday (24), the May contract of iron ore in Dalian Exchange (DCE) It ended with a moderate increase of 0.61%, at 824 yuan (US$119.66) per ton. 

In this trading session, prices for the steelmaking ingredient continued to be driven by the increase in… ocean freight ratesin addition to the surge in demand for the commodity in China, while blast furnace industries are progressively resuming operations in the country. 

Furthermore, as reported by the Chinese consultancy. SteelhomeIron ore inventories at the country's main ports fell 0.74% this week. 

Limiting further gains, imports of the commodity at 47 ports in the country increased by 661,000 tons from March 16 to 22, while exports of Australia and of Brazil They advanced 950,000 tons, according to data from Mysteel.

This text was translated by machine from Brazilian Portuguese.