Reuters reports that spot iron ore prices are expected to bounce back to near five-month highs above $140 a tonne this week. Prices will be supported by likely brisk steel demand in top consumer China. Shanghai steel futures hit a 1-1/2-week high on Monday as signs of a stabilising Chinese economy strengthened hopes for steel consumption, which seasonally peaks in September and October along with construction activity.
I have been a senior resources analyst following the fortunes of the mining and energy sectors for the past 25 years - previously working with stockbroker Intersuisse and financial group Fat Prophets. I am also Executive Director, Mining & Metals...
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