Iron Rally Toward $50 May Reverse, Australia's Top Mill SaysBy and
Prices more likely to drop than rise, BlueScope CEO predicts
Supply growth, mill closures will expand glut, O'Malley says
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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