CAPITAL MARKETS

Iron ore gains as manufacturing figures rise in China

Gold remains above US$1,900/oz

Staff reporter
 Rio Tinto’s Pilbara iron ore operations in Western Australia

Rio Tinto’s Pilbara iron ore operations in Western Australia

Its index came in at 52, up slightly from 51.9 a month earlier.

The iron ore price rose yesterday and 62% Australian fines were up 2.9% to US$195 per tonne according to MySteel, while other agencies have the price above $200/t again.

The gold price has softened but remains above $1,900 an ounce on the spot market.

Mining majors performed strongly in London yesterday after the bank holiday.

Anglo American, Antofagasta and Rio Tinto were all up about 4%.

In Toronto, Barrick Gold rose 2.09% and Freeport-McMoRan closed up 3.49% in New York.

Finally, BHP was up about 3% in midday Australian trade.

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