Iron ore rallies above $US116

The price of iron ore recovered overnight.

The price of iron ore has recovered overnight, rallying to within US10c of the price it was trading at before posting its sharpest one-day drop in four years just over a fortnight ago.

Benchmark iron ore for immediate delivery to the port of Tianjin in China was trading at $US116.80 a tonne, a solid 3.9 per cent lift on the $US112.30 price in the previous session.


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