Posted on 17 Nov 2009
Iron Ore Cash Prices Reach Three-Month High on China Demand
Cash prices for Australian iron ore delivered to China traded at a three-month high amid increased demand from China and higher freight costs.
The price of 62 percent ore delivered to Tianjin port was at $100.90 a metric ton on Nov. 16, according to e-mailed prices from The Steel Index. That's the highest since Aug. 19.
Rio Tinto Group, BHP Billiton Ltd. and Fortescue Metals Group Ltd. are Australia's three biggest iron ore exporters.
