Iron Ore Pulls Back From Five-Month High With Supplies in Focus

Iron ore retreated from the highest level since February as major miner Vale SA reported an increase in quarterly production, and investors weighed the outlook for demand in top importer China.

Futures fell toward $104 a ton in Singapore, after surging more than 4% over two days as a mega-dam project in Tibet bolstered the demand outlook. Traders are also assessing efforts by Beijing rein in competition among steelmakers, potentially aiding mills’ margins and supporting raw-materials prices.