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Iron ore remains strong, less susceptible to China-Australia trade spat – NEWS.com.au
Iron ore remains strong, less susceptible to China-Australia trade spat
Australian iron ore stocks are riding high as the price of the steelmaking commodity remains strong.Analysts expect it to stay elevated for the foreseeable future as COVID-19 curtails supply from Brazil.
Prices were below $US80 per tonne in November but have soared over the past five months, reaching $US125/t in August – the first time since February 2014.
It rose as coronavirus cases, deaths and lockdowns in Brazil, which is the second biggest iron ore producer behind Australia, continued to …
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