Iron Ore Swaps Jump Most In Five Months

Bloomberg reported iron ore swaps jumped the most in at least five months on speculation Chinese infrastructure spending will boost demand for the steelmaking ingredient.

As quoted in the market news:

Contracts for the first quarter of 2013 rose as much as 8 percent, the most since at least April, to $105 a metric ton, Clarkson data showed. Forward freight agreements for Capesizes, the largest vessels hauling the raw material, in the fourth quarter increased as much as 6.2 percent to $8,600, extending the biggest two-day gain since July 3.

Click here to read the full Bloomberg report.