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Iron ore jumps above US$50: Is it time to buy the miners?

Posted on 21 April 2015

Iron ore has somehow managed to defy bearish market sentiment over the last few weeks, having recovered from a 10-year low to bounce back above the US$50 a tonne mark on Friday. According to data from the Metal Bulletin, the commodity rose 2.3% during the session to be trading at US$50.93 a tonne, compared to its recent low beneath US$47 a tonne. While iron ore has been on something of a tear recently; the rebound could well be short-lived.
Analysts and economists have taken turns in berating the outlook for the commodity, with some predicting prices will fall towards US$40 a tonne by 2017 while others, including Citi and Australia’s own Treasurer, Joe Hockey, have suggested it could fall below that level this year…………………………………..Full Article: Source


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