Iron ore price rallies
Iron ore prices are on the move again, as ore for immediate delivery at
Tianjin port in China gained 2.1 percent to $120 a dry tonne, a fourth
day of gains.
Analysts in China believe the price will settle in
the $100-$120 a tonne range as Chinese iron ore producers are a higher
quartile cost producer and if the price falls much below this, then
China imports more iron ore.
The third quarter is traditionally
slow for iron ore useage and large increases in price are not expected.
Reports out of China indicate that investment in infrastructure may
begin again in late 2013 or early 2014.
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