The iron market is recovering

After falling for a long time under the effect of the zero Covid policy in China, iron ore prices have started to rise again sharply. On the Singapore futures market, a ton is now trading at 124 dollars against 75 dollars at the beginning of November. An increase of 63% in just over two months.

The main reason for this rise is the return of activity in China and the improvement in the economic outlook. The trend is the same for all non-ferrous metals, although less marked. Over the same period, the London Metal Exchange index rose 24%.