Iron Ore’s Strength Hard to Reconcile With Soft Chinese Demand

Iron ore’s robust start to the year continues to highlight what many observers deem to be a persistent mismatch between market pricing and conditions on the ground.

Benchmark Singapore futures topped $109 a ton this week, a level last reached 15 months ago when the Chinese government was busy with measures to stimulate the economy. The country is the world’s biggest buyer of iron ore, the main feedstock for steelmaking.