iron ore news, page-51

SINGAPORE: Spot iron ore topped $140 a tonne for the first time in a month as firmer steel prices encouraged Chinese producers to restock the raw material, hoping demand will pick up during the seasonally stronger second quarter.

Iron ore has rebounded around 6 per cent after hitting three-month lows in mid-March, but remains nearly 12 per cent below this year's peak. Further price gains will hinge on whether steel sales in China, the world's top consumer and producer, gather pace