Markets: China's iron fires

Reports of the death of China's iron ore demand have been greatly exaggerated.

So much for dire predictions for iron ore. The spot price for iron ore imported through the northeast Chinese city of Tianjin has risen for an eighth consecutive day, up $US1.50, or 1.2 per cent, to $US131.90 a tonne. The Tianjin iron ore price is now 19 per cent higher than it was May 31 when it was $US110.40. That’s quite a rise given the volume of dire commentary on the Chinese economy, industrial production and the output of steel mills in particular.

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