China iron ore, steel prices hit record
China iron ore futures surged 10% to a record high, steel prices rose 6% to hit a trading limit. Iron ore gains have resulted in steel prices rising over four per cent in China, the major producer of the commodity.
China government has announced a serious of policies to control the steel capacity, in an effort to reduce pollution. At present, some steel mills have stopped purchasing high prices materials.
In titanium market, the tight spot availability and higher demand from the titanium dioxide sector to lift Chinese titanium concentrate prices in the coming days.
