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Iron Ore: Spot in Longest Winning Streak, But Caution Rising
Nov. 18, 2011 03:01PM PST
Base Metals Investing
Reuters Africa reported iron ore rallied for a 14th consecutive day in its longest winning streak ever.
Reuters Africa reported iron ore rallied for a 14th consecutive day in its longest winning streak ever.
As quoted in the market news:
The rapid rebound from last month’s slump is spurring caution with steel prices not recovering as fast.
Chinese steel mills began replenishing their inventories of the steelmaking raw material after spot iron ore prices fell to a 22-month low below $117 a tonne in late October. While iron ore prices have surged more than 26 percent since then, China steel futures have largely been steady.
