Iron ore prices ended May on a high with the 62% benchmark fines product from Australian producers back near $US200 a tonne, but still off sharply from the all time highs reached on May 12.
In fact the 62% and 58% Fe fines ended May still in bear territory (a fall of 20% or more from their most recent peak). The price of the higher quality 65% Fe fines saw the smallest fall from those highs, an indication is remains in strong demand.
Fastmarkets MB said the index price ended the session $US198.83 a tonne, for fines delivered to northern China. That was a rise of $US8.32 a tonne or more than 4%.
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.