News Snapshot:
The spot price of iron ore jumped nearly 2 per cent overnight to $US103.10 per tonne, according to Platts. The January futures contract on the Singapore Exchange added $US1.20 to $US102.20 a tonne. Prices for iron ore this week surged to the highest level in two months as Beijing stepped up efforts to support its troubled property sector. Those measures have a better chance of translating into stronger demand for steel and iron ore as China shifts away from its strict COVID-zero strategy, according to ANZ strategists. The Australian dollar was steady at US68.13¢ on Friday morning, consolidating its swift...
