The price of iron ore has risen to its highest level in more than a month, outperforming other industrial commodities such as oil and copper as traders bet on stronger demand from China.
Benchmark Australian iron ore with 62 per cent iron content rose to $139.25 a tonne yesterday, according to Platts. That is the highest since early May and up 4.7 per cent in the past fortnight.
In contrast, Brent crude oil prices have slid 7 per cent over the same period, while on the London Metal Exchange aluminium prices were down 3.9 per cent and copper prices were up just 1.1 per cent.
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