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Iron ore, the key ingredient in steelmaking, has extended its recent breathtaking rally after China cut interest rates for a third time in six months in a further attempt to shore up its slowing economy.
在中国再次推出降息举措后，炼钢重要原料铁矿石价格在最近的这轮激动人心的涨势中继续攀升。中国这次降息是6个月内第三次降息，试图进一步支撑其放缓的经济。
Benchmark Australian ore for immediate delivery into China rose $2, or 3 per cent, to $62.50 a tonne on Monday, according to a price assessment from The Steel Index. Iron ore has now surged almost 35 per cent since sinking to a six and a half year low of $46.70 in early April.
根据钢铁指数公司(The Steel Index)的价格评估，即期中国到岸澳大利亚基准铁矿石价格周一上涨2美元，达到每吨62.5美元，涨幅3%。自4月初铁矿石跌至每吨46.7美元的6年半内最低点以来，如今铁矿石价格已激增近35%。
China is the biggest consumer of seaborne iron ore, purchasing around two-thirds of the world’s supplies. The latest rate cut should lower borrowing costs and ease the pressure on the country’s heavily indebted steelmakers.
中国是海运铁矿石的最大消费国，其购买量占全球供应量的比例约为三分之二。最近这次降息应该会降低借贷成本，减轻中国负债累累的钢铁制造商的压力。
A decline in Chinese ports stocks and a late buying spree by steel mills restocking ahead of the peak summer demand period have been the key drivers of the recent recovery in iron ore prices.
中国港口库存的下滑、以及近期炼钢厂在夏季需求高峰期前大举买入的行为，是铁矿石价格近期复苏的主要推动因素。
In addition, three of the four largest seaborne producers — BHP Billiton, Fortescue Metals Group and Vale — have all suggested they might be willing to adjust production volumes, which have surged in recent years and overwhelmed weaker demand.
此外，在四大海运铁矿石生产商中，必和必拓(BHP Billiton)、Fortescue Metals Group及淡水河谷(Vale)这三家都曾暗示，它们可能会愿意调整铁矿石产量。最近几年，铁矿石产量已急剧增长，超过了已然减弱的需求。
However, many analysts do not expect the recovery to last and believe prices will fall unless Chinese demand picks up or there is a real commitment to cut supply on the part of major producers.
不过，许多分析师预计，除非中国需求回升或主要生产商真正致力于降低供应量，这轮复苏行情不会持续下去，铁矿石价格将会下跌。
