iron ore prices increasing

TTY is well in the money now as iron ore prices continue to increase, they'll be repaying Noble rather more quickly than shareholders realise with the present spot price.
Remember, TTY is still selling 2.2 million tons pa. at spot price, equating to more than AUD$30/ton profit at present.


Imported ore inventory decreased at main ports last week
Published: 28 Dec 2009 23:49:10 PST

December 29 MetalBiz--Data showed that till the close of last week, the imported ore inventories was 66.45mln tons, down 300,000 tons from the previous week. Till the end of last week, the stock of Australian ore decreased 440,000 tons to 21.51mln tons, Brazilian ore dropped 50,000 tons to 19.05mln tons and Indian ore fell 20,000 tons to 13.16mln tons.

With the tight supply, the iron ore price grew 3.6% last week, thereinto, the imported ore price hiked 5.7%.