China demand strong
China's trade data exceeded expectations for January, confirming record demand for iron ore and crude.
The copper price has had its best start to a year since 2012.
Meanwhile, concerns about iron ore supply were brushed aside as futures soared 8 per cent higher.
Daily iron price commentary isn't really my area, but this latest move is worth a look.
Overnight the iron ore spot price blazed another 3.3 per cent higher to $86.62/tonne, which is the highest spot since September 2014.
In Aussie dollar terms that puts the iron ore price at A$113/tonne, a figure that was almost unthinkable just a year ago.