Iron Ore Hit 6-Week High on Friday

The price of iron ore jumped to its highest level since May 20 on Friday, climbing more than 5 percent in a week, MINING.com reported.

As quoted in the market news:

The benchmark import price of 62% iron ore fines at China’s Tianjin port now trades at $122.60 a tonne according to data supplied by The Steelindex.

The strength comes on the back of a rise in the price of Chinese steel. Chinese prices are the most closely watched – the country forges almost as much steel as the rest of the world combined.

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