21 Mar '16, 8am

#Ironore futures in Singapore extended a gain above $50 a metric ton amid signs of recovery in China’s property mkt https://t.co/nEuR2v0Mk6

#Ironore futures in Singapore extended a gain above $50 a metric ton amid signs of recovery in China’s property mkt https://t.co/nEuR2v0Mk6

Iron ore extended a gain toward $60 a metric ton as further signs of a recovery in China’s property market, coupled with policy makers’ plans to loosen margin-lending controls in equity trading, helped to improve sentiment. Ore with 62 percent content in Qingdao rose for a fourth day, increasing 2.3 percent to $58.82 a dry ton, according to Metal Bulletin Ltd. After dropping in January as concern about a global glut persisted, the commodity rallied 19 percent last month. This quarter it’s up 35 percent, with the advance also supported by a weaker dollar and interruptions to supply. Iron ore has advanced this year, rebounding from three annual losses and surprising forecasters who’d predicted further declines, amid expectations that steel demand in China may rise after policy makers signaled their willingness to support growth. China’s home prices climbed in the most cities...

Full article: http://www.bloomberg.com/news/articles/2016-03-21/iron-or...

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