Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Tuesday, 17 January 2017

Multi-year highs for iron ore

Air pollution in China reportedly caused supply disruptions.

And the spot price of iron ore has blazed higher to its strongest point since the middle of October 2014.

The daily spot price of Australia's most valuable export commodity was up 3.9 per cent to $83.65/tonne. 

There were also massive gains in coal futures.

Quarterly reporting season for the resources companies kicked off today.

This should give us a good idea of just beneficial the massive rebound in commodity prices has been.