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Mining Australia reported that the price of iron ore reached up over US$55 per tonne, its third consecutive gain after the US Federal Reserve failed to increase interest rates. As quoted in the market news: For the third straight day the metal has grown on the back of the failure of the US Federal Reserve …
Mining Australia reported that the price of iron ore reached up over US$55 per tonne, its third consecutive gain after the US Federal Reserve failed to increase interest rates.
As quoted in the market news:
For the third straight day the metal has grown on the back of the failure of the US Federal Reserve to increase interest rates, with the likelihood this situation will continue in to 2016.
This inaction by the Reserveis likely to lead to continued upwards movement for the metal as the US dollar weakens.
Iron ore sat at US$55.50 per tonne in the Port of Tianjin, up 1.3 per cent from its earlier spot of US$54.80 per tonne.
