08.03.2016 - Iron ore jumps by record 19% on China stimulus hopes
Iron ore prices surged by a fifth on Monday, the biggest gain on record, as Chinese mills scrambled to replenish supplies of the steelmaking ingredient ahead of the summer construction season. If the move is sustained, it could add billions of dollars to the bottom line of the world’s largest miners. Iron ore is critical to the profitability of companies such as BHP Billiton, Rio Tinto and Brazil’s Vale. Iron ore had been widely expected to remain in the doldrums amid excess supply and slowing Chinese demand...............................................Full Article: Source
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