Iron ore leapt to a fresh 15-month high, continuing a rally that has seen the steelmaking commodity rise 83 per cent since September.
The surge marks a dramatic reversal from just a few months ago when gloomy investors and traders were predicting much lower iron ore prices.
But from a low of $86.70 a tonne in September, prices have risen to levels last seen during the boom days of early 2011, when the benchmark grade rose to almost $200 a tonne.
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