Iron ore is ripping higher with strong gains recorded across all...

Iron ore is ripping higher with strong gains recorded across all grades


DAVID SCUTT
FEB 6, 2018, 7:36 AM

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https://edge.alluremedia.com.au/uploads/*/2017/04/mountain-bike-jump.jpgPhoto by Ezra Shaw/Getty Images
Iron ore spot markets ripped higher to start the week with strong gains recorded across all grades.
The price for benchmark 62% fines jumped 1.8% to $75.70 a tonne, according to Metal Bulletin, adding to the 2.1% gain seen on Friday.
It currently sits at the highest level since January 22.
https://edge.alluremedia.com.au/uploads/*/2018/02/MBIOI-62-Feb-6-2018.jpg
Like the benchmark, both lower and higher grades rallied hard during the session.
58% fines surged 4% to $43.64 a tonne, recovering after logging a small dip on Friday. Ore with 65% Fe content continued to push higher, adding a further 1.9% to settle at $91.70 a tonne.
Personally I cant see how steel prices and iron ore prices dont jump through MARCH AND APRIL at least as restrictions come off , you would expect it will take time for them to get stock levels right and clear back log of orders ????????????????