Iron ore price surges, jumps to $100/tonne; details here

The overall metal pack seems to be doing quite well, with the iron ore gaining nearly 8 percent this week. Iron ore prices have rebounded above $100 per tonne after declining quite sharply.

Iron ore prices witnessed a high of $239 per tonne in 2021. However, prices were constantly declining recently, hitting a low of $85 per tonne, which is the lowest since November 2020.

Some support is now returning into the markets despite the COVID variant Omicron concerns in the global markets.