Iron ore futures extended gains on Wednesday (Jan 11), with the Singapore benchmark contract vaulting past US$120 a tonne to hit a fresh six-month peak, as concerns over supply added support to prices already boosted by brightening demand prospects in China.
Analysts said latest data showing lower iron ore shipment volumes particularly from Brazil and plunging cargo arrivals in top steel producer China were also driving prices of the steelmaking ingredient higher.
Cadence Minerals plc (LON:KDNC) provides mining services. The Company focuses on finding lithium and other technology minerals in new places, as well as offers extracting services.