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anglo pacific group plc

The iron ore rally keeps on keeping on

Iron ore spot markets continue to rally, underpinned by strengthening Chinese demand.

According to Metal Bulletin, the price for benchmark 62% fines rose 0.3% to $75.90 a tonne, leaving it at the highest level since November 19.

65% Brazilian fines outpaced the benchmark, lifting 0.8% to a two-month high of $90 a tonne.

The price of 58% fines was yet again the standout performer for the session, surging by a further 1.5% to $52.59 a tonne. It now sits at a level not seen since August 2017, narrowing its price discount to the benchmark to the narrowest level since late July 2017.

 

 

Anglo Pacific (LON:APF) has a 2% NSR royalty on all mineral products sold from the area of the Maracás Menchen project to which the royalty interest relates. The project is located 250km south-west of the city of Salvador, the capital of Bahia State, Brazil and is 99.97% owned and operated by TSX Venture Exchange listed Largo Resources Limited (‘Largo’).

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