Iron – Bloomberg reported that the 2012 profit of Ferrexpo plc (LSE:FXPO), a Ukrainian iron ore producer, dropped by more than half, to $214.3 million, on lower Asian demand. The company has recommended a dividend of 3.3 cents/share and a special dividend of 6.6 cents/share.
Iron – Bloomberg reported that Sydney-based economist, Justin Smirk, known for his highly accurate base-metals predictions, said iron ore may drop 35% by the end of the year to $110 a ton.
Iron – Bloomberg reported that iron-ore swaps rallied to a 15-month high on speculation that China’s steel mills will need to buy supplies before the Chinese New Year holiday and as data showed that the industry is expanding in this country.
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