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CAP shares rise amid uncertainty in the iron market after the disaster in Brazil

On a caution day for the markets of the world, CAP captures all the eyes of local investors.

The company's role rises by 2.34% to $ 7,000, which is the highest level since mid-November 2018. The growth in the papers is compared with the recovery of 0.39% of the selective IPSA.

With almost $ 8,000 million, this is the best-selling paper of the day and the highest amount since July last year.

The quotation is cited against the background of the uncertainty that exists in the iron market after the catastrophe that led to the destruction of the Brazil dam at one of the Weil mines, the largest mining company in this country.

Futures on the Dalian Commodity Exchange on Tuesday extended the rally, reaching the highest closing level in more than a year, after the benchmark price for immediate delivery rose to $ 78.80 per ton on Monday, the highest level ever. maximum since March, reports Bloomberg.

In particular, futures for iron in China rose by 4.14% per day and accumulate an increase of 9.87% for 5 consecutive days.

Shares of Australian mining companies rose, rising for the BHP Group, Rio Tinto Group and Fortescue Metals Group Ltd.

In Brazil, "it seems likely that in the coming weeks and months there will be an overall increase in safety tests," says a note in Capital Economics, in which the forecast for the end of the first quarter has risen to $ 75 per ton. "These tests can reveal other vulnerabilities in the system that could lead to temporary outages in one or more mines until the problems are resolved."

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