Iron ore prices are still climbing [IMG] DAVID SCUTT SEP 10,...

Iron ore prices are still climbing


DAVID SCUTT
SEP 10, 2018, 7:32 AM

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https://edge.alluremedia.com.au/uploads/*/2018/03/dots.jpgJEFF PACHOUD/AFP/Getty Images

• Iron ore spot markets pushed higher again on Friday, adding to strong gains seen earlier in the week.
• Chinese rebar inventories fell last week while utilisation rates of blast furnaces at steel mills hit the highest level since mid July.
• Chinese iron ore imports were relatively unchanged in August compared to the levels of July.

Iron ore spot markets continued to push higher on Friday, adding to gains seen earlier in the week.
Firmer steel prices once again helped to bolster sentiment.
According to Metal Bulletin, the spot price for benchmark 62% fines rose 0.1% to $68.48 a tonne, leaving it at the highest level since August 13.
It’s now risen in each of the past four sessions, adding 3.7% in the process.
https://edge.alluremedia.com.au/uploads/*/2018/09/MBIOI-62-Sept-10-2018.jpg
Like the benchmark, higher grades also inched higher with the price for 65% fines lifting 0.5% to $96.40 a tonne.
After soaring a session earlier, the price for 58% fines was unchanged at $38.64 a tonne.
The continued gains in mid and higher grades followed earlier strength in Chinese rebar futures traded in Shanghai.

65 % grade hits $96.40 when AUD is sitting around the 71 cent mark

Means Karara receiving in the vicinity of $$$$ 135.73 AUD

QUITE GOOD CONSIDERING MARKET FLAT AND OVER SUPPLIED !

And yes Mole still not good enough but a hell of alot better than earlier years -)-)-)