CHINA HRC: Prices jump after iron ore reaches record high

China's hot-rolled coil prices jumped on Monday December 7 amid futures gains, with the ferrous market overall posting increases after iron ore reached a record high on Friday.

Domestic
Eastern China (Shanghai): 4,340-4,360 yuan ($665-668) per tonne, up 60-70 yuan per tonne
A Shanghai-based trader said sellers in the spot market increased their offers after seeing gains in the futures market, "especially after iron ore in the Dalian Commodity Exchanges (DCE) reached a record high on Friday."

He said many financial investors would be attracted to the ferrous sector after the most-traded January iron ore futures contract at the DCE closed...

Immediate trigger for crash was new Fed Chairman pick

Gold stocks slump on metal price decline

Is the gold market starting to turn 'irrationally exuberant'?

Gold stocks explode up as equity markets languish

Gold stocks outpace flat large caps