Iron ore continues to climb despite weakness in steel prices

Iron ore spot markets continued to climb on Monday despite renewed weakness in Chinese steel prices.

According to Metal Bulletin, the price of 58 percent fines surged 1.9 percent to $46.19 a tonne, leaving it at the highest level in over a year.

Higher grade ores also closed at fresh cyclical highs with the price of 65 percent Brazilian fines inching up 0.2 percent to $98.60 a tonne.

 

Altus is a London (LON: ALS) and Toronto (TSX-V: ALTS) listed, diversified and Africa focused mineral exploration project generator. Through our subsidiaries we discover new projects and attract third party capital to fund their growth, development and ultimately exit optionality. This strategy enables Altus to remain focused on the acquisition of new opportunities to be fed into the project generation cycle and aims to minimise shareholder dilution. Our business model is designed to create a growing portfolio of well managed and high growth potential projects and royalties, diversified by commodity and by country. Altus currently has eighteen projects in six commodities across six countries. We aim to position our shareholders at the vanguard of value creation, but with significantly reduced risks traditionally associated with investments in the mineral exploration sector.

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