Iron ore futures prices recorded rapid increases during the past days, topping the list of the fastest-rising raw materials, which raises fears of high inflation rates in the world.
Bloomberg News Agency indicated that the price of iron futures contracts will rise by 50% during the next three weeks, to join the list of metals whose prices are rising steadily, such as aluminum in light of the increasing demand. on her.
The agency added that the profit margins of steel mining companies are expected to decline as a result of the rise in crude prices, as companies will not be able to pass all the increase in crude prices to the main consuming sectors such as The real estate and construction sector, which is experiencing a slowdown in its activity.
