Iron ore futures are up more than 6%
DAVID SCUTT
DEC 18, 2017
https://edge.alluremedia.com.au/uploads/*/2017/08/woah.jpgJacopo Raule/GC Images
Iron ore spot markets finished mixed on Friday with a strong bounce in the benchmark masking an iffy performance elsewhere.
However, with Chinese futures soaring in overnight trade on Friday, Monday looks set to herald broad-based gains.
According to Metal Bulletin, the price for benchmark 62% fines jumped 2.2% to $71.50 a tonne, leaving it within touching distance of the multi-month high of $72.68 a tonne struck in early December.
SHFE Rebar ¥3,885 , 2.08%
DCE Iron Ore ¥531.50 , 6.19%
DCE Coking Coal ¥1,316.50 , 5.28%
DCE Coke ¥2,151.00 , 6.17%
The strength in rebar and iron ore futures points to the likelihood that iron ore spot markets will follow suit with strong gains today, potentially seeing the benchmark price lift to a new multi-month high.
steel prices continue to soar, page-12
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