After a decent pull back in the iron ore spot price last week,...

After a decent pull back in the iron ore spot price last week, the relentless march back to $80 is near. It sits at $78.62 today.

It seems the Chinese can't get enough of the stuff at the moment - which IMO is a very good sign, considering that traditionally this time of year is the slowest period and IO prices are put under pressure leading up to the Chinese Winter.

However, I really would like to know how much Karara is actually getting for their "high grade mag". We really should be getting something in the $85-$90 range. The December quarterly will be interesting reading.