Iron ore price surges
The price of iron ore soared on Monday with the Northern China 62% Fe import price including freight and insurance (CFR) adding 5.6% to $45.60 a tonne according to data from The Steelindex.
The steelmaking raw material has gained 6.3% in value so far in 2016 hitting its highest level since mid-November. The price declined to a near decade low of $37 at the end of last year, but after today's advance it's firmly back in a bull market, generally defined as a more than 20% move from a low.
The latest leg up came after Chinese iron ore imports continued to impress with January cargoes of 82.2 million tonnes, down from December's giant tally but up 4.6% on a year on year basis..
Link: http://www.mining.com/iron-ore-price-surges/
Quelle: vale.com
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