It's reported that U.S. Steel stock added 11.9% on Tuesday, closing near a two-year high. AK Steel stock up by 0.7% and Olympic Steel surged 16%.
The prices of steel and its raw materials soared hit their trade limits in China as investors returned to the market to pick up sold-off commodities.
The analysts updated their iron ore price forecasts, showing that the steel attrition is more flexible than expected, and demand for iron ore is likely to be supported further by incremental restocking across the steel supply chain.
