GBG 0.00% 2.6¢ gindalbie metals ltd

Iron ore hits a 10-week high IMAGE:...

  1. 153 Posts.
    lightbulb Created with Sketch. 4
    Iron ore hits a 10-week high

    IMAGE: HTTPS://SECURE.GRAVATAR.COM/AVATAR/51F68BA58EC6BEE3852791D88C641954?S=32&D=MM&R=G

    DAVID SCUTT
    DEC 1, 2017, 4:19 AM
    image: https://edge.alluremedia.com.au/uploads/*/2017/11/bike-jump-1.jpg
    https://edge.alluremedia.com.au/uploads/*/2017/11/bike-jump-1.jpgDean Mouhtaropoulos/Getty Images
    Iron ore is at a 10-week high.
    According to Metal Bulletin, the spot price for benchmark 62% fines rose 0.5% to $68.13 a tonne, leaving it the highest level since October 20.
    It’s now risen in six of the past seven trading sessions, extending its rally from late October to 16.4%.
    image: https://edge.alluremedia.com.au/uploads/*/2017/12/MBIOI-62-Dec-1-2017.jpg
    https://edge.alluremedia.com.au/uploads/*/2017/12/MBIOI-62-Dec-1-2017.jpg
    The strength in the benchmark was mirrored across the grades.
    Ore with 65% Fe content rose 1% to $84.70 a tonne, outpaced by a 2.9% surge in the price of 58% fines which settled at $38.91 a tonne.
    The move in spot markets followed another surge in Chinese rebar futures on Thursday, continuing the pattern seen earlier in the week.
    The most actively traded May 2018 contract in Shanghai jumped 2.3% to 3,990 yuan, leaving it at the highest level since mid-September.
    That helped to spur on gains in iron ore futures in Dalian which added 3%, closing Thursday’s day session at 520 yuan.

    Sentiment was also helped by a stronger-than-expected China manufacturing PMI report for November which rose to 51.8, topping forecasts for a decline to 51.4.

    Read more at https://www.*.com.au/iron-ore-price-10-week-high-2017-12#RDxY6TiIkexTxiTd.99
 
watchlist Created with Sketch. Add GBG (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.