Iron Ore Headed to $140 on Brisk Steel Demand

Reuters reports that spot iron ore is expected to breach $140 a tonne this week due to brisk steel demand from China.

As quoted in the market news:

Shanghai steel futures hit a 1-1/2-week high on Monday as signs of a stabilising Chinese economy strengthened hopes for steel consumption, which seasonally peaks in September and October along with construction activity.

Click here for the full Reuters news story