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Cadence Minerals

Iron ore price jumps to fresh 6-year high

Iron ore prices hit fresh six-and-a-half year highs on Monday on the back of a Chinese construction and factory expansion boom.

According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $130.17 a tonne on Monday, up 1.4% from Friday’s peg.

That was the highest level for the steelmaking raw material since mid-January 2014 and brings gains for 2020 to over 41%.

Cadence Minerals plc (LON:KDNC) provides mining services. The Company focuses on finding lithium and other technology minerals in new places, as well as offers extracting services

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.