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Iron-Ore Rout Ending as BHP Mine Shift Seen Limiting Surplus

BHP Iron Ore Output Gains 6% on Mine Expansions
Ian Waldie/Bloomberg
Updated on

The rout may be ending for the world’s iron-ore producers.

Benchmark prices for the ore used to make steel have rebounded 13 percent in April and are heading for the biggest monthly gain since 2012. In the previous 12 months, the commodity plunged 56 percent as an expansion of mine supply compounded a global surplus and slowing economic growth in China, the biggest user, hurt demand for metals used in everything from cars and appliances to homes and skyscrapers.