Economics
Iron Ore's 18% Rally Bucks Bears' Forecasts as BHP, Rio Jump
- Capital Economics's Bain warns the gains may prove temporary
- Price has rallied as China mills ramp-up after New Year break
(AUSTRALIA & NEW ZEALAND OUT) Generic - An iron Ore train arrives at Port Hedland processing Pilbara Iron Ore for export, 23 June 2005. The AGE Picture by GLENN CAMPBELL
Photographer: The AGE/Fairfax Media via Getty ImagesThis article is for subscribers only.
Iron ore isn’t sticking to the script, at least for the bears. The commodity that was supposed to be weighed down again this year by rising low-cost supply and poor demand has soared 18 percent, establishing a foothold above $50 a metric ton.