Business Insider just now
The spread between lower and higher grade iron ore prices continued to narrow on Tuesday, declining to levels not seen in several years.
According to Metal Bulletin, the spot price for 58% fines rose by 0.9% to $79.95 a tonne, extending its rally since late November last year to 101%.
It now sits at the highest level since August 2014.
While lower grades continued to gain, the price for benchmark 62% iron ore fines slipped marginally, dipping to $94.85 a tonne, down 0.5% from Monday’s five-year high of $95.30 a tonne.
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