Beale. Im a true believer and staying loyal to the bone.
Iron ore soars 4% to a three-week high, naysayers burned Tuesday, April 01, 2014 by Proactive Investors
The price of iron ore has jumped to a three-week high. Iron ore explorers andproducers will be feeling chuffed following a 4% jump in in the iron ore price on Monday - to a three-week high.
The import price at China's Tianjin port of 62% iron ore fines grade added US$4.50 to US$116.80 per tonne.
This was the best one day performance in over six months.
Iron ore though still sits close to 13% lower during 2014, as China's steel sector adjusts to slower growth in the world's second largest economy.
China consumes close to 70% of the seaborne iron ore trade, and produces nearly as much steel as the rest of the world combined.
TRF Price at posting:
7.2¢ Sentiment: LT Buy Disclosure: Held
