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Dalian iron ore jumped nearly 5 percent on Wednesday, leading ferrous materials’ rebound in top steel producer China following three sessions of losses, after the country’s central bank pledged to roll out more policy measures to stabilize the economy.
Iron ore’s most-active May contract on China’s Dalian Commodity Exchange rose 4.9 percent to 739.50 yuan ($116.39) a ton, its strongest since Jan. 13.
On the Singapore Exchange, iron ore’s most-traded February contract climbed 3.5 percent to $131.40 a ton.— Reuters
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