The iron ore It rose again this Friday (14th), ending the week with a 1.6% increase.
The most-traded January contract on the Dalian Stock Exchange rose 0.26% to 772.5 yuan ($108.61).
“Prices are expected to fluctuate in the short term, but there are no clear drivers in sight,” South China Futures wrote.
In the meantime, the market may continue to price in supply concerns.
“Markets are concerned about the imminent start-up of Guinea’s Simandou iron ore mine,” ANZ Research said.
“A peak of 10% of global demand could flood the market with mines,” the analysts added.
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