CAPITAL MARKETS

Iron ore price strengthens

The iron ore price has continued to strengthen at seven-year highs, as China-Australia trade tensions remain in the spotlight and Chinese inventory levels are reportedly low.

Staff reporter
 Black Iron is advancing its Shymanivske project in the Ukraine

Black Iron is advancing its Shymanivske project in the Ukraine

The MySteel Australian 62% fines were up another 2.66% on Friday to US$154.50/t.

Canada-based Black Iron (TSX: BKI) - which is advancing its Shymanivske project in Ukraine - closed up 37.1% in Toronto, despite no news since October.

Meanwhile a deadline has been shifted in Brexit trade talks, and US president Donald Trump continues to protest the election result.

Market futures were mixed.

The gold price is about $1,835 an ounce on the spot market, having ranged between about $1,899/oz to $1,766/oz in the past 30 days.

Among the majors, Polymetal rose 1.2% in London and Antofagasta fell 3.6%.

Barrick Gold closed down 0.5% in Toronto.

Finally, BHP was up slightly in midday Australian trade, less than a dollar off a multi-year high reached last week.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

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