Iron ore will average more than $100 a ton this year as the worldwide market remains tight, despite China’s property crisis hurting the outlook for steel demand there, according to HSBC Holdings Plc. The global seaborne market for the steelmaking staple will remain in deficit in 2024-25, with gains in steel production outside China, especially in India, aiding consumption, analysts including Howard Lau said in a note. Iron ore has had a bumpy ride this year, slumping by almost a third in the first quarter on concerns over weakening Chinese demand, , including a dip below $100, before staging a partial rebound this ... (full story)