Iron ore price rises on firmer steel outlook, but trade tensions cap gains
Lower Chinese steel product inventory driven by robust exports also supported iron ore prices above $100/t.
Brazil’s total mineral production fell 12% in 2022 compared with the previous year, to 1.05 billion tonnes, industry group Ibram said on Tuesday.
The local mining industry total revenue plunged 26% last year to 250 billion reais ($48.18 billion).
($1 = 5.1893 reais)
(By Marta Nogueira)
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