SPOT IRON ORE PRICE JUMPS TO OVER $100/T

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03-08-2009

   According to data from U-Metal, the delivered price of Indian spot iron ore to China now stands at a ten-month high of $102/t, up from this year’s low of $60/t at the end of March. Meanwhile, iron ore stockpiles at China’s discharge ports have risen to a nine-month high of 73.29 Mt, although this is 1.13 Mt lower than the November peak of 74.4 Mt.