- Advertisement -
Iron ore prices rose more than 3 percent on Thursday, with the Dalian benchmark advancing for a fourth straight session, buoyed by hopes of a pick-up in steel demand in top consumer China and improving steel profit margins.
The most-traded iron ore for January delivery on China’s Dalian Commodity Exchange climbed 3.3 percent to 837 yuan ($129.17) a ton.
Iron ore’s most-active October contract on the Singapore Exchange was up 3.3 percent at $150.60 a ton.
- Advertisement -
The pullback of iron ore prices from record peaks scaled in May helped boost steel margins, which may have prompted Chinese mills to increase their production. – Reuters
Author
- Advertisement -
