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Iron ore keeps climbing
1/7/2013 9:15:00 AM
By: Emerging Money
The New Year has started off with a bang with iron ore hitting a 14 month high, closing at $154 per ton.[caption id="attachment_71803" align="alignright" width="300" caption="A Cliffs iron ore operation"] [/caption]
There are seasonal factors at work and overdone conditions on de-stocking in China which took prices as low as they went ($86/ton).
Miners remain in vogue, despite the fact copper isn't trading with much ferocity and coking coal hasn't moved in line with iron ore.