iron ore hits $142 per tonne on indian bans!

Hey Guys

Even with the current demand for iron ore from CHina being lower than normal because of the wet season and consuming domestic iron ore and inventory, the price of Iron Ore has kicked up from $115 two weeks ago to $142 purely on the news that Kanatarka has banned iron ore exports and that other Indian states are looking at joining them.

If the Iron Ore Export bans spread to other states in India, we should see some considerable increases in the price of iron ore from mid August onwards, as we move into the higher demand months!

We could see a new record Iron Ore Price over the next 6 months if these bans continue!

http://www.metalbulletin.com/Article/2641621/Iron/Spot-iron-ore-prices-rise-to-140-142-cfr.html