Iron Ore prices surge after China’s stimulus

By Glenn Dyer – Sharecafe

Another massive surge in iron ore prices occurred on Monday, bringing the total gain since China began announcing stimulus measures last Tuesday to over 20%.

The price of 62% Fe fines surged to a day’s high of more than $113.50 per tonne—the highest since May—before easing in late afternoon trading to close at $108.90 per tonne.

From today, the market will largely go quiet as China observes a seven-day holiday break.

Monday’s surge mirrored a similar performance by Chinese stock markets, with the key index, the CSI 300, jumping more than 8% a day ahead of the holiday.