China steel, iron-ore recover as worries about weak demand ease

Spot iron-ore and steel prices rose on Monday, clawing back some of the ground lost in recent weeks amid renewed hopes about stronger demand for metal even as worries persisted about a growing glut of iron ore in the world's top buyer. The most-active rebar on the Shanghai Futures Exchange was up 1.4% at 3 033 yuan a tonne at 0509 GMT, on track for its best daily performance in three weeks. Prices fell last week for a second straight week.