The spot price of iron ore leapt again, and could spike towards $US100 a tonne in the weeks ahead, according to Capital Economics.
The price move and forecast come in the wake of a disaster in Brazil which so far has claimed 84 lives, with more than 250 people still missing and presumed dead after a tailings dam at a Vale mine failed on Friday releasing a wall of sludge. Most of those killed and missing were employees on a lunch break.
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Timothy Moore writes on monetary policy, equities, commodities and currencies. He is the overnight markets editor and writes Before the Bell. Connect with Timothy on Twitter. Email Timothy at timothy.moore@afr.com
