Labrador Iron Mines Holdings Ltd (LBRMF)

[Lonewolf6]

Spot prices of iron ore with 63.5% iron content for delivery to Tianjin rose above $126 a tonne in January, hitting the highest level since mid-October, as weaker-than-expected Chinese inflation data boosted expectations that the central bank will be providing more stimulus in the coming months to support the slowing economy. Hopes for an easing of steel production controls in top steel producer China after the Beijing 2022 Olympics next month also provided some support. Elsewhere, news about a coronavirus outbreak in Tianjin raised concerns over disruptions to production and transportation in downstream sectors. The port city announced tightening exit controls over the weekend and began mass-testing its 14 million residents after it reported cases of infection with the Omicron.