Market Roundup
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Oil
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Just a few short weeks ago, investors couldn’t dump iron ore fast enough. The raw material, used to make steel, plunged in price, sinking below $40 per dry metric ton earlier this year.

But something extraordinary happened overnight. Iron ore futures prices exploded 21% on the Singapore Exchange, the biggest one-day rise in history. Similar explosions took place in Chinese metals markets, with one analyst in Shenzhen telling Bloomberg the “iron ore and steel markets have gone berserk.”

To read the rest of Mike Larson’s Afternoon Edition, click here ...