Labrador Iron Mines Holdings Ltd (LBRMF)

[Lonewolf6]

Prices for iron ore cargoes with a 63.5% iron content for delivery into Tianjin rose above $150 per tonne, the highest since August last year, amid expectations of increased demand in China. Russia-Ukraine war is set to boost demand for Chinese steel overseas as a supply from both countries is already disrupted. Russia accounts for an estimated 10% of the global steel trade, while Ukraine has a 4% share. Meanwhile, the demand in China will remain strong with the government renewing its stimulus package for the infrastructure sector in the face of slowing economic growth. Still, Beijing has been signaling it would focus on stabilizing prices after the state planner warned about iron ore trading speculation.