According to Platts, the benchmark S&P Global Platts 62% Fe IODEX, CFR China, reached an all-time high this week, rising to US$193.85/dry metric ton on 27 April. 

“What we are witnessing is the continuation of a demand-driven trend that began exactly a year ago, when China saw a fast rebound in economic activity following its rapid exit from lockdown, which was immediately matched by a sudden spike in steel prices,” Platts said. 

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