Iron ore spot markets continue to rally, underpinned by strengthening Chinese demand.
According to Metal Bulletin, the price for benchmark 62% fines rose 0.3% to $75.90 a tonne, leaving it at the highest level since November 19.
65% Brazilian fines outpaced the benchmark, lifting 0.8% to a two-month high of $90 a tonne.
The price of 58% fines was yet again the standout performer for the session, surging by a further 1.5% to $52.59 a tonne. It now sits at a level not seen since August 2017, narrowing its price discount to the benchmark to the narrowest level since late July 2017.
Anglo Pacific (LON:APF) has a 2% NSR royalty on all mineral products sold from the area of the Maracás Menchen project to which the royalty interest relates. The project is located 250km south-west of the city of Salvador, the capital of Bahia State, Brazil and is 99.97% owned and operated by TSX Venture Exchange listed Largo Resources Limited (‘Largo’).