BHP Billiton Limited, Rio Tinto Limited and friends cheer the rising iron ore price

Fairfax media is reporting spot iron ore prices rose to their highest level since early September.

The ABC reports business analyst Philip Kirchlechner is forecasting strong demand for Australian iron ore to continue as cold weather in China halts domestic supply, saying…

“I think in the short term there will be very strong demand, partly driven seasonal now, because the temperatures are falling in China, the winter is coming so domestic iron ore production in China, which is mostly in the north, will decline.”

It all adds up to happier times in Western Australia, and for shareholders in iron ore exporters including BHP Billiton (ASX: BHP), Rio Tinto (ASX: RIO), Fortescue Metals Group (ASX: FMG) and Atlas Iron Limited (ASX: AGO).

Shares in BHP are up 9 cents today to $38.18 on day the S&P/ASX 200 has fallen a relatively modest 0.22%. Rio Tinto shares are down 31 cents to $65.29, but are up almost 14% over the past year.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now