Iron Puts on Best Performance in Six Weeks

Reuters reported that hopes that iron ore demand from China will rise after February’s Lunar new year brought prices of the metal up to two-week highs.

As quoted in the market news:

Benchmark iron ore with 62 percent iron content .IO62-CNI=SI gained 0.4 percent to $118.40 a tonne on Thursday, according to Steel Index, the highest since Nov. 23.

Rising for a third straight day, iron ore is up more than 2 percent for the week, its best performance in six weeks.

Click here to read the full Reuters report.