12.08.2013 - Investors are bracing, but iron ore price stays steady
Spring may mean flowers to most people, but for iron ore investors it is the time to assume the brace position. This time last year, the iron ore price had already begun its terrifying descent towards a September low of $US86.70 ($94.10) per tonne, a price that prompted more than a few Australian miners to contemplate their existence. Similar turbulence was expected in the third quarter of this year, but so far there's been no sign of weakness. The iron ore price has been creeping higher since late June, and spent most of last week in a positive trajectory towards $US133.10 ($144.45) per tonne; a very comfortable price for most Australian miners, made even better by the local currency trading well below parity...............................................Full Article: Source
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