Iron Ore Prices Inch Up

Reuters reported spot iron ore prices inched up on Friday, even as trader avoided large purchases of the steel making ingredient.

As quoted in the market news:

Offer prices for 61.5 percent Pilbara fines rose $1 to $139-141 per tonne including cost and freight on Friday, industry consultancy Umetal said, and they have now increased $3 since markets reopened on Wednesday.

The major indexes have also made gains, and Platts’ 62 percent index IODBZ00-PLT ended at $141.5 per tonne on Thursday, up 1.8 percent from the previous close.

Click here to read the full Reuters report.