Spot Iron Ore Prices Rise on Signs of Increased Demand

Reuters Africa reported spot iron ore prices rose in China on Wednesday on signs of increased demand.

As quoted in the market news:

Industry consultancy Umetal said Pilbara fines with 61.5 percent iron content were being offered at $141-$143 per tonne cost and freight on Wednesday, up $2 from Tuesday.

Trading sources said activity was resuming after a slow start, with an Australian miner closing a deal for a shipment of 63 percent iron ore at a price of $146.6 a tonne on Tuesday.

Click here to read the full Reuters Africa report.