Labrador Iron Mines Holdings Ltd (LBRMF)

[Lonewolf6]

Iron ore prices skyrocketed to above $150 per tonne in the second week of December, a level not seen since February of 2013, as the world’s largest iron ore export terminal in Port Hedland in Western Australia is likely to get hit by the cyclone. The iron ore prices are up 70% this year due to strong demand from China which has initiated a massive infrastructure stimulus to support the post-pandemic recovery and worries about supply from Brazil and Australia. Brazilian miner Vale, the biggest in the world, is struggling to return to full production capacity after a deadly dam collapse in Brazil last year and expects to produce 300m to 305m tonnes this year, below a previously lowered target of at least 310m tonnes.