The crazy stone
Iron ore futures break 1100 Yuan, is there room for upside?
Iron ore has become a “crazy stone”, the main domestic contract broke through the 1100 Yuan mark, and is still going up.
As of April 20, the main contract price of iron ore futures in Dalian Commodity Exchange broke through 1100 Yuan/ton. Among them, the closing price of the May contract has broken 1200 Yuan/ton. That is nearly double the 620 Yuan per ton in the same period last year.
Singapore’s main iron ore contract hit a record high of $168.05/ton on April 19.