iron ore price surges $13 this week..

I am hoping to see IFE attract a partner now. These iron ore price movements make it hard for short term supply thinking, so IFE might be just the ticket for a partner.

Spot 63.5% Fe iron ore prices surge $13 this week - Metal Bulletin
China's imported iron ore market extended gains on the first trading day of 2013, as sentiment remained bullish. Mainstream assessment for 63.5% Fe content Indian fines stood at $153-155 per tonne cfr China on Friday January 4, up $8 from Monday and $13 higher week-on-week. Spot prices are now at their highest level since November 18 2011. "There have been some enquiries from steel mills during the day, but supply remains tight, and what's more, traders are holding on to their stockpiles," one iron ore trader in Shandong said. "As iron ore prices are rising too fast, and are at high-levels, few people dare to take positions now," she added. One 80,000-tonne cargo of 58% Australian LAPS fines for February delivery was traded at $144 per tonne cfr on Global Ore on Friday, up $8 compared with a similar transaction on Monday. Meanwhile, 90,000 tonnes of 58% Australian LAPS fines with laycan February 16-25 was traded at $145 per tonne cfr on China Beijing International Mining Exchange. BHP Billiton put up a tender for 70,000 tonnes of Newman fines with laycan January 16-25 in the spot market. A day earlier, Rio Tinto sold 190,000 tonnes of Pilbara Blend fines with laycan January 17-26 at $151.38 per tonne cfr. Most market participants are expecting further rises in the iron ore prices due to a lack of downward pressure. "Spot prices of 62% Fe fines are likely to reach $160-170 per tonne cfr in a short run," a Shanghai trader said.