Iron Ore Surges Most Since October as Plunge Spurs Cargo Demand
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Iron ore jumped the most since October amid speculation that a collapse in prices for the steelmaking raw material is spurring a surge in demand.
Ore with 62 percent iron content climbed 4.2 percent to $116.60 a dry metric ton at Tianjin in northeast China, according to prices from The Steel Index Ltd. That’s the biggest gain since the 6.2 percent increase on Oct. 9.