Spot Iron Ore Nears Five Month High

Reuters reported spot iron ore prices extended gains as strong steel production in China sustained the upward momentum of the steelmaking raw material, but further increases may be curbed.

As quoted in the market news:

Iron ore with 62 percent iron content .IO62-CNI=SI stood unchanged at $147.7 a tonne on Thursday from the previous day, clinging to its highest in more than five months. Iron ore has gained nearly 7 percent over the first quarter of this year.

Click here to read the full Reuters report.