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anglo pacific group plc

Iron ore staged another explosive rally to start the new trading week

Iron ore prices continued to surge on Monday, picking up where they left off last week.

The latest buying frenzy coincided with news that Chinese iron ore port inventories fell heavily again last week. Global crude steel output also jumped to the highest level on record in April, helping to underpin demand for raw materials.

According to Metal Bulletin, the spot price for benchmark 62% iron ore fines jumped another 3.1% to $108.62 a tonne, leaving it at the highest level since late April 2014.

The benchmark has now surged 70% from November 26 last year.

Anglo Pacific Group (LON:APF) has a diverse portfolio of assets in low-risk jurisdictions and is the only listed company on the London Stock Exchange focused on royalties connected with the mining of natural resources.

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