High-grade iron ore prices are soaring after another mining disaster in BrazilIMAGE: ore grades diverged sharply on Monday. Mid and higher grades soared while lower grades tumbled.Another deadly disaster at a Brazilian iron ore mine operated by Vale explains the scale of the divergence seen during the session, sparking concern about renewed supply disruptions for higher grade ore.The benchmark iron ore price logged its largest gain in over a year and now sit at the highest level since early March 2017.Iron ore spot markets diverged sharply on Monday with lower grades tanking as mid and higher grades soared.The catalyst was yet another deadly mining disaster in Brazil, raising concern about the potential for supply shortages in higher grade ore.According to Metal Bulletin, the spot price for benchmark 62% fines jumped 4.7% to $78.18 a tonne, leaving it at the highest level since early March last year. Not since Late December 2016 has the benchmark logged a larger daily percentage gain.image: https://edge.alluremedia.com.au/uploads/*/2019/01/MBIOI-Jan-29-2019.jpgHigher grades were also bid with the price for 65% Brazilian iron ore fines lifting 2.8% to $91.60 a tonne, a fresh multi-month high.Read more at https://www.*.com.au/iron-ore-price-grades-vale-corrego-mine-disaster-2019-1#
- Forums
- ASX - By Stock
- GBG
- High Grade iron ore
High Grade iron ore, page-43
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add GBG (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
1CG
ONE CLICK GROUP LIMITED
Mark Waller, MD
Mark Waller
MD
Previous Video
Next Video
SPONSORED BY The Market Online