After what’s been a tough quarter, iron ore’s getting a small reprieve. Futures clawed their way back above $60 a metric ton and spot prices have rebounded from a one-year low as steel output holds up in China, buoying demand for the material even as its supply rises.
The SGX AsiaClear contract rallied as much as 3.1% to $61.43 a ton, the highest in five weeks, while futures on the Dalian Commodity Exchange held gains.
