Iron ore prices hurtle to a seven-year high

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From Hellenic Shipping News

For the key steelmaking ingredients of iron ore and coking coal, it was a tale of two different markets this week. 

The price of iron ore punctured the $US120 per tonne ($164.70/tonne) barrier this week, its highest since early 2014 This was on account of a stronger market for steel in China which is targeting massive investment in its infrastructure. 

For the 62 per cent grade iron ore fines product, spot prices were transacting around $US121.75 per tonne, according to Metal Bulletin. 

A week ago, iron ore cargoes delivered to ports in China were trading around $US116.85 per tonne, the price reporting agency said…Full Story

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