Prices for iron ore cargoes with a 63.5% iron content for delivery into Tianjin hovered close to a nine-year high of $175 per tonne amid continued robust demand from China and persistent doubts about Brazilian shipments. Vale, the world’s top producer, has been struggling to return to full production as it faces legal and pandemic obstacles. Adding to a bullish sentiment bias were prospects for a robust global economic recovery as vaccination drives gather pace, which, in turn, should further fuel demand for the steel-making ingredient.