As nasty quarter ends, iron’s reprieve sees futures back in $60s

June 28, 2017

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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.

Category: General