Iron-ore enters bull market as China's curbs supercharge steel

Iron-ore has rallied back into a bull market. Prices are surging as China’s crackdown on steel output this winter runs down inventories, helping mills’ profitability and stoking demand for high-grade ore even as investors discount signs of ample supply. Spot ore with 62% iron content jumped 3.7% to $72.68 a metric ton, the highest since September 14, according to Metal Bulletin. That’s more than 20% up from the low hit in late October, meeting the common bull-market definition. Earlier, on Monday, futures in Asia rallied, with the SGX AsiaClear prices rising 2.9% to $71.29/t.