The price of iron ore has surged to an all-time high as aggressive, infrastructure-focused stimulus programs in China fuel booming demand for the key steel-making material | NickToscano1 exports economy
The price of iron ore, Australia’s biggest export, has surged to an all-time high as aggressive, infrastructure-focused stimulus programs in China fuel booming demand for the key steel-making raw material.
“Iron ore prices continue to rally,” analysts at investment bank Macquarie said. “With steel margins remaining positive, there is scope for spot prices to hit $US200.” “Iron ore is a big part of the resources sector that is forecast to contribute $296 billion in export earnings this year,” he said.
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