Chinese iron ore futures are on a tear again

APhoto by Hagen Hopkins/Getty Images

There just no stopping the iron ore price at present.

The most actively traded May 2016 iron ore contract on the Dalian Commodities Exchange has risen by a further 2% to 392.5 yuan today, leaving it at the highest level seen since October 21 last year.

Despite taking a tumble on Thursday, the spot price has been on a tear this year, rising 17.5% according to pricing from Metal Bulletin.

There may well be more gains to come should the movements in futures trade be replicated in spot pricing this evening.

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