Iron ore prices on the rise

Iron ore prices have risen approx. 22.5% in the last seven weeks from $117 to $143.50 per ton, due to severe weather in the two countries responsible for 70% of iron ore production – that is Australia and Brazil. For report, see http://www.topix.com/business/steel/2012/01/as-iron-ore-hits-a-7-week-high-a-look-at-hedging-steel-makers

 

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