Records were shattered by iron ore producer Fortescue Metals Group and Rio Tinto shares traded at a 12-year high on an incredible rally in the iron ore commodity price that puts it back at levels unseen since the end of the super-cycle.
Iron ore surged as Brazilian producer Vale downgraded production at a time when Chinese demand is strong and port inventories are being run down as Beijing invests heavily in infrastructure as part of its economic recovery plan.
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Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
Robert writes on companies and markets. He is a former New York and Shanghai correspondent, and has worked in Hong Kong. Email Robert at robertguy@afr.com.au
