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Benzinga
Benzinga
Business
Stjepan Kalinic

China-Led Rally Sends Iron Ore Over $100 Despite Looming Oversupply

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Iron ore prices have rebounded above $100 for the first time since February. Renewed optimism about China's economic resilience and the announcement of construction of the world's largest hydropower dam drove momentum of the futures market in Singapore.

Yet, some analysts believe the rally is unsustainable given the market dynamics and healthy capacity increases from key producers.

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