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1.Market Observations, 8.Was Sticky

25 Nov 2016 (AFR) – Iron ore futures soar again on Chinese steel mill closures

(25 November 2016, AFR, p23, by Lisa Murray)

‘China’s pledge to shut down inefficient steel mills and address chronic pollution has triggered a rally in iron ore futures as traders bet a more profitable steel sector will underpin strong demand for raw materials. Iron ore futures rose more than 6 per cent on Thursday morning as traders piled in for a third straight day pushing up prices to near three-year highs. It has been a rollercoaster month with the futures price for the January 2017 iron ore contract surging by more than…’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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