Last week, iron ore prices logged the largest gain of 2018, climbing nearly 7% till Apr 19. However, the spot markets of this major steel making product went hard into reverse in Friday’s closing session.highest level in over a month,” on Apr 19. People’s Bank of China’s decision to trim the reserve ratio requirement (RRR) and soaring crude oil prices were primarily the two major catalysts to the rally." data-reactid="24" style="margin: 0px 0px 1em; color: rgb(38, 40, 42); font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 15px; background-color: rgb(255, 255, 255);">Per the Metal Bulletin, “the spot price for benchmark 62% fines surged 3.9% to $68.45 a ton, leaving it at the highest level in over a month,” on Apr 19. People’s Bank of China’s decision to trim the reserve ratio requirement (RRR) and soaring crude oil prices were primarily the two major catalysts to the rally. However, Friday’s trading session marked a parabolic-like move, with benchmark 62% fines falling 2% to $68.45 a ton, rescinding much of the improvements secured in the prior session.Source