A new 15-day lockdown in one of Brazil’s two main iron ore regions sent the price of high-quality ore surging to record highs on Thursday.
The shutdown is part of a series of new clamps started this week as the country experiences another surge in Covid cases and deaths from a new, far more dangerous home-grown variant of the virus.
News of the lockdowns saw the price of the rich, 65 Fe fines (from Brazil) jump to a new all-time high of $US202.90 – a rise of $US3.20 a tonne on Thursday, according to MB Fastmarkets.
The price of the more widely available 62% fe fines (delivered to northern China and predominantly shipped fromAustralia) rose $US1.58 to $US177.98 a tonne.
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