Iron Ore Advances to One-Month High on Chinese Demand Outlook
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Iron ore climbed to the highest in a month on speculation China’s plans to speed up $1.1 trillion of infrastructure projects this year will boost demand amid a decline in port inventories in the world’s largest user.
Ore with 62 percent content delivered to Qingdao, China, rose 0.9 percent to $71.49 a dry metric ton today, the highest since Dec. 5, data from Metal Bulletin Ltd. show. Prices slumped to $66.84 on Dec. 23, the lowest level since June 2009, and last week rebounded 5.8 percent.