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The value of iron ore rallied the most on record Monday night after steel prices in China jumped on the belief Beijing's pro-growth policies would boost sluggish demand.

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“As China steel mills have yet to restock anytime soon, therefore the iron ore price outlook remains grim in our view.” Iron ore for delivery to China’s Qingdao ...

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Steel prices in China have also risen this year ... iron ore prices are impacting Chinese steel prices. ... Chinese steel mills rely heavily on seaborne iron ore.