Iron Ore Rebounds Above $100 on Speculation Demand May Pick Up
- Futures in Singapore surge as steel contracts in China advance
- Mills are restarting furnaces, China Industrial Futures says
China is the world’s largest iron ore importer.
Photographer: Carla Gottgens/BloombergThis article is for subscribers only.
Iron ore rallied — with futures pushing back above $100 a ton — on speculation demand may pick up in China, the top steelmaker.
Futures jumped more than 6% to trade above $104 a ton in Singapore, rebounding from a second consecutive weekly loss during which they hit the lowest since last May. The climb came as Chinese traders returned after a long weekend.