Iron Ore Rises on Supply Risks

AI Summary

Iron ore futures in China rose above CNY 710 per ton due to supply risks, mainly from Brazil's disruptions caused by El Niño weather patterns and increased shipping costs. These supply concerns support prices despite demand challenges.

Iron ore futures in China climbed above CNY 710 per ton on Wednesday, recovering from losses in the previous session as fresh supply concerns supported prices despite ongoing demand headwinds. Analysts cited supply disruptions in top producer Brazil linked to El Niño weather patterns. Smaller Brazilian iron ore producers are also facing sharply higher shipping ...