| It may not attract as many headlines as oil, but a record 19 per cent jump in iron ore prices this week has drawn renewed attention to the key steel making ingredient, which underpins the profits of most of the world’s biggest miners.
News that a flower show in the Chinese city of Tangshan was a major driver of the spike has also raised questions about the way in which iron ore prices are calculated and published. Iron ore prices have actually only been set on a daily basis for the past eight years, and are not as transparent as prices for many other industrial commodity markets...............................................Full Article: Source
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