Iron revival snuffed out as 'weakest commodity' drops again

Iron-ore’s attempt at a rebound lasted just a few short hours as investor concern over robust supplies, including near-record port stockpiles, and speculation some traders in China were rushing to offload holdings combined to snuff out the brief gain. In Singapore, SGX AsiaClear futures fell 2.1% to $59.70 a metric ton, overturning an earlier climb of as much as 2.7%. In China, the most-active contract on the Dalian Commodity Exchange pared a 5% jump to close just 1.1% higher. Benchmark spot prices tumbled toward $60 a dry ton.