Iron-ore’s supply-driven rally picked up pace on Wednesday, with futures topping $90 a ton, amid increasing concern the crisis at Brazil’s Vale will be drawn out as regulators ordered dozens of dams to be shut. Futures for benchmark material rallied as much as 4.1% in Singapore, while spot ore climbed to a two-year high and the contract for high-grade ore extended gains above $100/t. Barclays raised price forecasts on expectations for a global deficit.
