Iron ore rose 3.8% in weekend trading – Westpac

Westpac recently released its communiqué concerning Iron Ore, indicating an upbeat performance during the weekend trading. The bank also conveys the metal’s trading scheduled for the current week. It should be noted that Iron ore prices have a major impact on the AUD/USD pair.

Key quotes

“Iron ore had a good weekend, rising 3.8% in weekend trading.”

“Inventory at Chinese ports dropped again, and Vale pared its pellet output for 2019 to “to adapt its product portfolio to temporary market conditions” according to Bloomberg.”

“Iron ore markets will be open Monday and then closed for the rest of the week due to National Day holidays.”