Iron ore surge potential windfall for Budget; banks weigh price signalling in handling ASIC levy

There's been another surge in the price of iron ore overnight which is good news ahead of the Federal Budget on May 3.

Iron ore is sitting at US$64.30, up six percent over three days.

But there are questions over seasonal factors and whether the price can be sustained.

Meanwhile, banks are being circumspect about whether the ASIC levy will be passed on to customers because of price signalling laws.

Here's my report