Iron Ore Price Roars Ahead

Mining.com reported that the spot price of iron ore rose on Wednesday despite Vale (NYSE:VALE), Rio Tinto (NYSE:RIO) and BHP Billiton (NYSE:BHP) reporting record-setting output growth.

As quoted in the market news,

The 62% Fe import price including freight and insurance at the Chinese port of Tianjin added $2.10 or 4.1% to $52.90 a tonne on Wednesday, the highest since end-March according to data provided by The SteelIndex. The iron ore price has recovered 13% since hitting record lows at the beginning of April, but remains down 25% so far in 2015 after almost halving last year.

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