Unprecedented Iron ore rally continues

Iron ore 62% Fe CFR surged another 4.4% to $74.12 per tonne on Thursday, which is the largest single day gain since October 25. 

The Nymex iron ore futures rose to a high of $71.05 per tonne, a level not seen since December 2014. 

Meanwhile, Chinese iron futures are on the rise today as well after having finished trade limit up 8.99%. 

The sharp rally in the prices has been blamed on the surging coking coal prices. Furthermore, Trump victory has boosted speculation that the President Elect would announce major stimulus program, leading to a rise in demand for the commodities.