Iron Ore Extends Bull Market

Bloomberg reported iron ore is extending a bull market rally on slow expansion and restricted supplies after hitting a 22-month low in October.

As quoted in the market news:

Seaborne supply will advance 3.8 percent to 1.09 billion metric tons this year, the smallest gain since 2001, according to Clarkson Plc, the largest shipbroker. Prices in China, the biggest importer, may rise 10 percent to an average of $157.50 a ton in the fourth quarter, the median of 11 analyst estimates compiled by Bloomberg shows.

Click here to read the full Bloomberg report.