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Market Watch - July 2017
According to metal Bulletin, the price for benchmark iron ore (62% Fe, CFR China) hit just shy of US$65/t on 30 June 2017, up 21.8% from a mid-June low of US$53.36/t. With a bull market defined as a gain of +20%, iron ore is – out of nowhere – in a bull market! This leads us to thinking if this represents the “starting gun” for investors to get back into commodities.