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Iron ore soars on speculative China rally

Peter Ker
Peter KerResources reporter
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China's call to arms for investors to bolster stock markets boosted iron ore prices, as futures trading suggests an 11-month high in prices for Australia's most important commodity will soon be breached.

Iron ore rose to the highest since August 2019 on Monday evening at $US111.85 per tonne, and futures trading in the Chinese city of Dalian on Tuesday afternoon pointed to further gains.

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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com
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    Original URL: https://www.afr.com/companies/mining/iron-ore-soars-on-speculative-china-rally-20200714-p55byj