Business
China boom turbocharges iron ore – The Australian Financial Review
The big miners guided the ASX into positive territory as Chinese demand for iron ore shows no signs of easing.
“[But] what was missing was really that strong steel pricing, and that was because steel inventory was high. In the last month, thats fallen briskly.”
The strong performance of the local miners pushed the S&P/ASX 200 Index up 22.4 points, or 0.34 per cent, to 6561.6, its highest level since February 27.
Chinese demand for raw materials is offsetting concerns over heightened tensions between Australia and its major trading partner that has flared up in the form of tariffs on wine and lobsters, and…
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