Iron Ore Gains as China Steel Output Improves, Brazil Flows Slow

Iron ore advanced as China’s daily steel output showed signs of improvement, while shipments from major exporter Brazil slowed.

Major Chinese steelmakers in early September produced 2.09 millions tons of crude steel a day, representing a 7.8% jump from the year-earlier period, according to a survey from the China Iron and Steel Association. That positive sign came after official figures Monday showed steel output in the country during August fell for a third consecutive month.