HONG KONG, Dec 12 (SCMP): Strong demand from steel plants and growing concerns over a worsening relationship between China and Australia have helped send the price of iron ore to an eight-year high and forced Chinese regulators to step in to curb speculation.
According to a price index from the China Iron and Steel Association, the price of iron ore, which is a key raw material in steelmaking, has risen to the highest level since March 2013. It has surged 50 per cent since the beginning of this year.
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