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Iron ore rally expected to fade in H2 as oversupply kicks in

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Iron ore prices surged 23 per cent in the first quarter as Chinese mills ramped up output to take advantage of a rebound in steel prices, and some supply was disrupted in Australia.

Singapore

THE global iron ore market faces an increasingly severe oversupply, according to Citigroup Inc, which said the commodity's gains will probably be reversed in the second half.

Increases in production, including from miners that restarted output after this year's rally,

sentifi.com

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