Iron Rally Toward $50 May Reverse, Australia's Top Mill Says

  • Prices more likely to drop than rise, BlueScope CEO predicts
  • Supply growth, mill closures will expand glut, O'Malley says

BlueScope Steel Sees Higher 2H Earnings

Iron ore’s surprise rebound toward $50 a metric ton may run out of steam as a further increase in global supplies and the closure of some steel producers in China will boost a global glut, according to the head of Australia’s largest steelmaker.

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