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China iron ore jumps 5% as steel races to 3-yr high

China iron ore jumps 5% as steel races to 3-yr high

Wednesday, March 15, 2017, 10:22 AM

Iron ore futures in China surged 5% as steel prices rose to their strongest in more than three years on hopes of firm demand as Beijing spurs infrastructure spending and property sales rise. China’s fixed-asset investment grew 8.9% in January and February from the same period last year, largely due to strong property and infrastructure construction, outpacing the 8.1% pace for all of 2016.
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