Iron ore prices jump amid China’s efforts to boost country’s share market

Sky News Business Reporter Edward Boyd says China’s stimulus bundle to encourage its funding markets has boosted the outlook for iron ore costs.

“We’ve seen the iron ore price jump from about $110USD a tonne up to $117USD a tonne over the last 48 hours or so,” Mr Boyd stated.

“That helped some of our iron ore producers yesterday on the stock market and expect that to continue.”