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Re: chevy56 post# 1328

Wednesday, 01/06/2016 2:49:18 PM

Wednesday, January 06, 2016 2:49:18 PM

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Iron ore price continued to rally overnight, bucking weakness seen in other asset classes.

According to Metal Bulletin, the spot price for benchmark 62% fines rose by a further 1.84%, or 80 cents, to $44.37 a tonne.

The increase, the eleventh on the trot, marks the longest stretch of uninterrupted gains seen since March 2012.

From December 11, the date when the benchmark price fell to an all time record low of $38.30 a tonne, it has now rebounded by 15.84%, approaching the 20% plus level that marks a technical bull market.

It is also nearing $44.59 a tonne, an important technical level that marked the previous record low set on July 8 last year.

http://www.businessinsider.com.au/iron-ore-is-flying-2016-1
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