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Cadence Minerals

Iron ore price moves higher

The unprecedented COVID-19 pandemic has treated commodity markets very differently. Just as in global credit and equity markets, telecommunication companies and technology shares in the two respective asset classes outperformed those in more traditional sectors, the performance also differed across commodities. 

Second to gold, iron ore has been the best-performing commodity in 2020, as subdued seaborne supply, owing to record rainfall and mining limitations brought about by the increase in COVID-19 cases and China’s government stimulus spurring infrastructure projects pushed prices above the $125 per tonne mark for the first time since February 2014. 

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.