The import price of 62% Fe content ore at the port of Tianjin surged 7.4% to $79.70 per dry metric tonne on Thursday as Donald Trump's victory in the US presidential elections add fuel to the fire of iron ore's almost a month of unbroken gains.
According to The Steel Index an unnamed Australian miner sold 62% Fe Newman fines on the globalORE platform for $80.65.
Lower grade fines at the port of Qingdao shot up a whopping 12.4% on Friday to trade at $68.20 a tonne. 58% Fe content iron ore has risen 36% over the last four weeks while 65% Fe at the same Chinese port jumped to $91.70 a tonne.
65 % FE JUMPED TO $ 91.70 ??????
GBG Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
