Iron ore extends winning streak

Iron ore extends winning streak

DANIEL PALMER
2 HOURS AGO

The price of iron ore has lifted to within US60c of a two-month high ahead of a two-day holiday in China.
At the end of the latest session, benchmark iron ore for immediate delivery to the port of Tianjin in China was trading at $US55.80 a tonne, up 0.2 per cent from the prior close of $US55.70 a tonne.
The commodity has gone five sessions without seeing red numbers despite turbulence on global markets.
However, persistent concerns about the strength of the Chinese economy have capped gains given China's position as the world's dominant iron ore customer.
Investors will have time to take stock of recent events ahead of the weekend as a two-day public holiday curbs activity in China.
http://www.businessspectator.com.au/news/2015/9/3/commodities/iron-ore-extends-winning-streak