The company plans to build a warehouse infrastructure and logistics network to support the critical minerals supply chain in Saudi Arabia.

Both pellet premiums are based on Fastmarkets’ 65% Fe Brazil-origin iron ore fines CFR Qingdao index.

Freight prices fell significantly in the week to March 8.

And the UK export market has also been affected by a combination of weaker demand into deep-sea destinations such as Turkey and the Indian subcontinent.

The total trading volume of 2403 contract on the exchange was 137264 lots, with a turnover of about 4469.1666 million yuan.

China's crude steel production showed an increase during the January-February period compared to the previous year.

Iron ore insights: Global production trends and emerging markets

Ferrochrome and chrome company Merafe achieved a record profit of R1,753-million despite what it describes as a challenging economic environment in the 12 months to December 31.