Iron Ore Powers Above $60 as Steel Rally in China Spurs Demand

  • Trade responding to lift in China steel production, Price says
  • Additions to mine supply in 2016 may cap upside, Price says

Iron ore extended a rally above $60 a metric ton as steel prices in China surged amid a drawdown in product inventories, bolstering demand for the raw material as plants step up output in the top producer.

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