Futures of iron on the Singapore exchange rises by 10% as of Monday. Chinese construction and industrial sectors are driving this growth.
During this surge, iron ore futures peaked at USD 226 per ton by setting a new record high. During the last week, the futures reached the USD 200 mark for the first time.
Analyst of “Commonwealth Bank”, an Australian bank, stated, “It uncertain when the demand in China is going to drop. The supply chain has not been able to fulfill the high demand”.
