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maradyne

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07/02/18

12:16

Post #: 30885292
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Originally posted by maradyne ↑

Iron ore is ripping higher with strong gains recorded across all grades

DAVID SCUTT
FEB 6, 2018, 7:36 AM

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https://edge.alluremedia.com.au/uploads/*/2017/04/mountain-bike-jump.jpgPhoto by Ezra Shaw/Getty Images
Iron ore spot markets ripped higher to start the week with strong gains recorded across all grades.
The price for benchmark 62% fines jumped 1.8% to $75.70 a tonne, according to Metal Bulletin, adding to the 2.1% gain seen on Friday.
It currently sits at the highest level since January 22.
https://edge.alluremedia.com.au/uploads/*/2018/02/MBIOI-62-Feb-6-2018.jpg
Like the benchmark, both lower and higher grades rallied hard during the session.
58% fines surged 4% to $43.64 a tonne, recovering after logging a small dip on Friday. Ore with 65% Fe content continued to push higher, adding a further 1.9% to settle at $91.70 a tonne.
Personally I cant see how steel prices and iron ore prices dont jump through MARCH AND APRIL at least as restrictions come off , you would expect it will take time for them to get stock levels right and clear back log of orders ????????????????

Expand

Credit Suisse sees iron ore prices remaining higher for longer
Read more at https://www.*.com.au/iron-ore-price-outlook-credit-suisse-2017-12#7MsJW7xOjs3mCa2l.99Chinese

Iron ore Demand - “Stronger for Longer” An update on BHP Billiton’s Expansion Plans

China Iron Ore: Stronger for Longer?
GBG Price at posting: 2.3¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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steel prices continue to soar, page-19

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