Mining News

Iron-ore prices rise as Russia-Ukraine conflict clouds supply outlook

Benchmark iron-ore futures in China and Singapore climbed by more than 3% on Monday as traders worried that a prolonged armed conflict between Russia and Ukraine could also curb global supply of the key steelmaking ingredient.

The most-traded May iron ore contract on China’s Dalian Commodity Exchange advanced by as much as 3.6% to 711.50 yuan ($112.68) a tonne, after last week’s 1.8% gain.

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