DCE: Iron ore closes sharply higher on Tuesday.

In the evening session this Tuesday (17), the May iron ore contract in Dalian Exchange (DCE) It ended sharply higher, up 1.81% to 816.5 yuan (US$118.56) per ton. 

In this trading session, prices for the steelmaking ingredient were boosted by the resumption of intensive rebar production and wire rod rolling lines in China, which increased the capacity utilization rate in industries yesterday (16). 

Furthermore, the total amount of iron ore exported decreased by 3.805 million tons from March 9 to 15, affecting 47 Chinese ports. 

Limiting further gains, Australia and Brazil increased exports of the industrial raw material this week, a factor that increases supply in the Chinese market. 

This text was translated by machine from Brazilian Portuguese.