As Dalian futures suggested yesterday the spot iron ore price has surged even further overnight.
According to Metal Bulletin’s iron ore index (MBIOI-62) the spot price for 62% fines jumped 2.58%, or $US1.58, to $US62.76 on Tuesday.
With yesterday’s gains the spot price has now risen 9.87% in just the past four trading sessions.
No doubt there will be plenty of people watching Dalian futures closely when trade resumes at 11am Sydney time this morning.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.