Iron ore turns 'very hot' as 10% surge adds to commodities boom

Copper remains a favorite long wager in the commodities complex

Iron ore futures surged more than 10% and copper jumped to a record amid increasing bets they’ll be among the biggest winners from a commodities boom that’s stoking concerns about inflation around the world.
 

While market participants struggled to pinpoint a trigger for Monday’s gains in iron ore, they cited several ongoing trends including optimism that central banks will retain supportive policies even as the global economy recovers. Expectations China will tighten environmental rules have added to the bull case for copper -- seen as vital to the green energy transition -- and fueled speculation that steelmakers may front-load iron