Iron ore hits $US200 for first time as Chinese demand soars

Iron ore and steel climbed to records as Chinese investors unleashed fresh demand following a three-day holiday.

Benchmark spot iron ore prices topped $US200 ($257) a tonne for the first time ever, while futures in Singapore and China climbed. Steel demand is surging as economies chart a path back to growth just as the world’s biggest miners have been hampered by operational issues, tightening ore supply.

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