Iron ore prices have risen above $107 per ton.

The price of iron ore has risen for the sixth consecutive day, moving towards the highest closing level in over six months. Iron ore futures prices have risen above $107 per ton, hitting the highest intraday record since the end of February, with the potential to set the longest consecutive rise record since January. Analysts from Citic Securities reported that the demand for the stocking up of inventory during the peak season has increased, supporting industry prices. The market is also supported by expectations of a rate cut by the Federal Reserve. As of the time of writing, Singapore iron ore futures have risen by 1.55% to $107.05 per ton.