Iron ore price, page-36

... and to add cream to the coffee.. todays extract from smh.
..Recent falls were unwarranted. Sentiment remains positive, with solid economic data increasing expectations of strong demand this year
Markets Live: Profits drive ASX higher

The Sydney Morning Herald-3 hours ago
The profit was largely built on stronger than expected demand from China and higher prices for iron ore, coking coal and thermal coal ...

http://www.smh.com.au/business/markets-live/markets-live-iron-ore-jumps-20170207-gu7szz.html

3:40pm

Iron ore futures are up for a second session with expectations of strong demand in the world's top steel consumer China buoying the market.
Economic data in the coming weeks is expected to show the world's second-largest economy got off to a good start in 2017, with steady growth giving the central bank room to slowly tighten monetary policy and contain the risks from high levels of debt. Trade data is due on Friday.
"Iron ore spot prices rebounded strongly after the post-Lunar New Year weakness earlier this week," ANZ said in a research note. "Steel prices in China jumped as traders viewed the recent falls as unwarranted. Sentiment remains positive, with solid economic data increasing expectations of strong demand this year."
The market had earlier come under pressure since the country launched a surprise short-term rate hike last week, boosting financing costs for holders of commodities, which are priced in dollars.
Iron ore on the Dalian Commodity Exchange have rallied 3.7 per cent to 637.5 yuan ($US92.7). The spot price jumped 3.3 per cent to $US83.29 a tonne overnight. The most-active rebar on the Shanghai Futures Exchange is up 2.3 per cent at 3,202 yuan a tonne.
Unlike yesterday, the rise in iron ore futures hasn't lifted local mining stocks, with Fortescue trading flat at $6.63.