Iron ore contracts jump $3/t in China over a day, posting best week in almost two years

摘要

Contract prices for iron ore jumped $3/t over a day, after Thursday’s sudden plunge. The commodity rising $5/t over a week is posting its biggest weekly gain since July, 2013. Australian 62% Fe iron ore fines were assessed at $51.5/t CFR on Friday. “Contract prices have skyrocketed today, and most of us cannot find the precise reason for that. Still, price fluctuation is not something to be afraid of as long as there are no big changes in sentiments,” a trader told Metal Expert.