Rio CEO Sam Walsh told The Australian that short-term factors like restocking and the cyclone season are behind the December spike from USD 115 to USD 145.
Mr Walsh said “We’re seeing an unusual situation at the moment where there’s some nervousness from the steel mills in relation to supply. I’m sure it will settle down after the cyclone season.”
Source:
http://www.steelguru.com/raw_material_news/Rio_Tinto_says_iron_ore_price_rise_wont_last/297069.html
