After being in the red for a period, iron ore has surged into the black to US$56.20 a tonne in the last trading session, up from 0.7 percent from US$55.60 a tonne. According to news sources and trading analysts, the move leaves it just US$0.20 shy of a one month high. This is most likely due to the recent explosions in a container storage station at the Port of Tianjin earlier this week with experts saying that the disaster could upset the iron ore supply into China who is currently the largest iron ore consumer in the world.

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