Spot iron ore jumps back above $US60 a tonne

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The spot iron ore price, having been under pressure last week, has leapt back above the $US60 a tonne level overnight.

According to the Metal Bulletin’s iron ore index, spot prices for 62% fines jumped 2.03%, or $US1.22, to $US61.18 a tonne on Monday.

Having fallen for seven consecutive sessions last week, something that saw the price slip 10% to $US57.12 a tonne, it has now rebounded by more than 7% over the past three sessions.

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