The spot price for iron ore has risen 24 per cent to start the year and there’s the potential for it to top $US150 a tonne after next week’s Lunar New Year break.P Global Platts said its benchmark spot price rose $US9.15 or 6.6 per cent to $US147.90 a tonne on Friday; it closed 2021 at $US119. Chinese financial markets and most businesses will be closed all next week.Bloomberg
The year-to-date rally reflects in part a shift to easier monetary policy at the People’s Bank of China as the nation’s overall growth slows. Separately, President Xi Jinping this week said China’s efforts to lower carbon emissions should not negatively impact other priorities including securing enough energy and materials to meet the nation’s needs.
triathletetim Thanks for the article. Great time to short now that you're thinking its going higher.
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