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Iron ore to rise to US$90 per tonne

Iron ore has soared on the back of Donald Trump’s US$1trn infrastructure promise and a favourable Goldman Sachs report citing further supply shortages in China.

Zak Mir, technical analyst at Tip TV, believes the price spike to US$75 per tonne that followed Trump’s US presidential victory has yet to run its course.

Indeed, the bulk metal may be heading to as high as US$90 per tonne in the short-term he suggests.

 
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