Iron ore price rises on pre-holiday restocking, China stimulus hopes
"Winter restocking of iron ore among steel mills is still underway, so we believe ore prices will find some support in the near term," analyst says.
With stronger balance sheets, improved credit availability and stabilizing metal prices, PwC Tuesday forecast the recovery in global metals M&A is expected to continue for the balance of this year.
Iron ore targets were the primary driver of global metals M&A activity during the first quarter of 2011, contributing almost 40% of the deals worth a total of $5.1 billion, a significant increase over full-year 2010 when iron ore represented only 20% of total deals.
