China’s plan slapped down with incredible 10.3 per cent rise in iron ore price – NEWS.com.au

Chinas plan to drive down the cost of Australias biggest export currently bringing in $136 billion a year into our economy is not going to plan, in the short-term at least.The price of iron ore this morning has skyrocketed by a whopping 10.3 per cent to US$209.10 a tonne, according to CommSec. That comes after a 5.9 per cent rise yesterday.
While this is great news for Australian mining companies, it will be the last thing Beijing wants to hear after it recently reaffirmed plans to crack down on…

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