Iron ore has increased by 19%

#1
Iron ore with 62 percent content of the metal have soared in price on the opening of trading on March 9. Prices rose by 19%, and is now one ton of ore is priced at $63.79 per ton. Earlier this year, a ton of iron ore cost $39.51 per ton, which is 46% cheaper than today's price level.
The price could rise at least for a major accident at Vale mining company, which has no available funds for repairs. And the company's government has already announced its desire to sell the production of emergency to cover their debts. Following this, it is necessary to take into account the end of the Chinese holidays. After holidays we can see a seasonal increase in demand for metals.
 

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