MARKETS SPECTATOR: Australia's hot iron

Though the price has fallen below $US130, Atlas Iron's Ken Brinsden is optimistic about continued Chinese demand for Australian iron ore.

Atlas Iron managing director Ken Brinsden says that Chinese steelmakers show no sign of slackening their thirst for iron ore.

Iron ore stocks at Chinese ports are at their lowest since December 2010, according to data from Shanghai SteelHome Information. Meanwhile, the iron ore price today fell to $127.46 for ore with 62 per cent iron content on the NYMEX Clearport Index.

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