Iron ore climbs on China's realty demands

Iron ore extended a gain toward $60 a metric tonne as further signs of a recovery in China’s property market, coupled with policy makers’ plans to loosen margin-lending controls in equity trading, helped to improve sentiment.

Ore with 62 % content in Qingdao rose for a fourth day, increasing 2.3% to $58.82 a dry tonne, according to Metal Bulletin.

After dropping in January as concern about a global glut persisted, the commodity rallied 19% last month. This quarter it’s up 35%, with the advance also supported by a weaker dollar and interruptions to supply.