Ruling with an iron fist

IRON ore was the dominant force in today’s session, with iron ore majors BHP Billiton and Rio Tinto both cracking new highs while the slightly smaller, mid-tier iron plays were privy to some sensational gains.

Last week’s news of Rio looking to expand its iron ore output in the Pilbara by almost 50% to between 300 million and 320Mt per year looks to have finally been digested, with investors pushing up the