After a decent pull back in the iron ore spot price last week, the relentless march back to $80 is near. It sits at $78.62 today.
It seems the Chinese can't get enough of the stuff at the moment - which IMO is a very good sign, considering that traditionally this time of year is the slowest period and IO prices are put under pressure leading up to the Chinese Winter.
However, I really would like to know how much Karara is actually getting for their "high grade mag". We really should be getting something in the $85-$90 range. The December quarterly will be interesting reading.
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- About to break $80 mark
After a decent pull back in the iron ore spot price last week,...
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