Iron Ore Boom Generates 700% Gross Profit Margins For Big Miners

By Tim Treadgold

The iron ore boom powering the profits of the world’s biggest mining companies is showing no sign of fading thanks to stronger-than-expected Chinese steel demand.

Despite multiple forecasts over the past 12-months that the iron ore price was overdue for a fall it has done exactly the opposite, rising this week to a new 2020 high of $107 a ton, up 30% over the past four months.

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