David Fickling, Columnist

Why China’s Credit Squeeze Hasn't Popped Iron Ore's Bubble

The price may look lofty, but underlying factors will keep levels rising — for now.

May 11, 2021 at 10:00 PM UTC

David Fickling is a Bloomberg Opinion columnist covering climate change and energy. Previously, he worked for Bloomberg News, the Wall Street Journal and the Financial Times.

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Photographer: Ian Waldie/Bloomberg

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What could take the wind out of the surging price of iron ore?

The rebound in the global economy as the Covid-19 pandemic recedes has sent rust on a wild ride. Prices for futures in Singapore have nearly doubled in the past six months to a record high of $226.55 a metric ton Monday. China’s Dalian Commodity Exchange raised trading limits and margin requirements Tuesday after futures the previous day rose by the daily maximum of 10%.