SINGAPORE: Iron ore futures in Singapore surged on signs of robust demand from China’s steel sector, while market focus shifts to output reports from the top producers this week.
Prices advanced for a fourth day on buoyant consumption and improved mill profitability in China, the world’s top steel market. Crude steel production jumped 19% last month from a year earlier to near a record, while exports climbed in March amid optimism about the global economic recovery.
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