Spot Iron Ore Hits Four-Month High

Reuters reported spot iron ore hit a four-month high in trade on Friday as Australia shut its main ports.

As quoted in the market news:

Iron ore prices rose to the highest in nearly four months on Friday as recent gains in Chinese steel prices pointed to improving demand in the world’s top consumer, with tighter supply conditions in Australia seen helping sustain the upward momentum.

Click here to read the full Reuters report.