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Bulk Buys: Iron ore is now up nearly 50pc in 12 months – but a price drop might finally be coming – Stockhead
Iron ore prices surpassed $US130 per tonne this week, but the commodity’s further rise could be stymied by a drop in steel prices in China.
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- Iron ore fines prices traded this week at $US132.30 per tonne, up $US5.50 per tonne on week
- Hard coking coal prices were 50c lower this week at $US90 per tonne at Queensland ports
- China’s reinforcing bar price is at $US618.05 per tonne, down $US11.15 per tonne on a week ago
Iron ore prices surpassed $US130 per tonne this week, but the commodity’s further rise could be stymied by a drop in steel prices in China.
Spot prices have advanced $US5.50 to $US132.30 per tonne ($179.60/t),…
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