I can see a ray of sun Spot iron ore posted its biggest one-day gain on record yesterday and China steel futures rose sharply for a second day, supported by hopes Beijing's approval of $US157 billion ($150 billion) in infrastructure projects would resuscitate steel demand.
Offer prices for imported iron ore cargoes in China rose over the weekend and the benchmark rate jumped by $US6, or 6.7 per cent, to $US95 a tonne on Monday, based on data from information provider Steel Index.
This is the biggest rise ever recorded by the Steel Index, which started assessing spot iron ore prices in April 2009.
Link https://www.smh.com.au/business/mining-and-resources/iron-ore-price-posts-record-jump-20120911-25p8y.html