RE - HIGH GRADE ORE, page-6

This is taken straight from an article on HotCopper's home page:
The last two paragraphs have given me a little bit of a pep up...perhaps we will finally start to get some reward for the high IO grade that we produce:
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• Spot iron ore tops $70/tonne for first time since Jan 2015
• Shanghai rebar cuts gains after rising by 6-pct limit
• Coking coal slips after hitting record high

Iron ore futures in China surged by their 9-percent limit on Thursday to hit a 30-month peak, extending a recent rally backed by strong coking coal markets as well as steel prices.
Higher fees imposed by the Dalian Commodity Exchange on trading of coking coal and coke futures have diverted some funds into iron ore, traders and analysts said, helping iron ore outperform the rest of the ferrous market.

Spot iron ore topped $70 a tonne on Wednesday for the first time since January 2015, reflecting firm demand for high-grade cargoes as Chinese mills boost efficiency amid costlier coal, and could track further gains in futures.

The most-traded January iron ore on the Dalian exchange DCIOcv1 was up 5.9 percent at 571.50 yuan ($84) a tonne by midday. It hit its upside limit of 588 yuan earlier, its loftiest since April 2014.

While there is "no big rush" among Chinese steel mills to buy iron ore cargoes, "supply of high grade is limited, so it's natural to see prices rise", said an iron ore trader in Shanghai.

"Clients are now only looking for high grade and are showing no interest for low grade," he said.