Shipping rates down, iron ore prices up

DOMESTIC spot iron ore prices will need to stay above $US100 ($A111) a tonne and act as an incentive to keep marginal, high-cost domestic iron ore producers in the game, Macquarie says.

Shipping rates down, iron ore prices up Shipping rates down, iron ore prices up Shipping rates down, iron ore prices up Shipping rates down, iron ore prices up Shipping rates down, iron ore prices up

Iron ore prices currently exceed $US120/t (for 62% iron ore material) and Macquarie believes lower shipping freight rates bode well for the iron ore price, implying more potential to raise