Iron ore keeps climbing
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.