From The Motley Fool ======================= BHP Billiton Limited, Rio Tinto Limited and friends cheer the rising iron ore price
By Bruce Jackson - November 7, 2013
Fairfax media is reporting spot iron ore prices rose to their highest level since early September.
The ABC reports business analyst Philip Kirchlechner is forecasting strong demand for Australian iron ore to continue as cold weather in China halts domestic supply, saying… “I think in the short term there will be very strong demand, partly driven seasonal now, because the temperatures are falling in China, the winter is coming so domestic iron ore production in China, which is mostly in the north, will decline.” It all adds up to happier times in Western Australia, and for shareholders in iron ore…
AGO Price at posting:
$1.14 Sentiment: Buy Disclosure: Held
