Iron ore futures rose higher after the China's government promised to stabilize the market.
The most traded iron ore contract on China's Dalian Commodity Exchange (DCE) in May rose 1.42% to 965.5 yuan ($134.70) per metric ton in daytime trading. Coking coal DJMcv1 increased by 0.3% and coke DCJcv1 increased by 0.73%.
On the Singapore Exchange, the February iron ore benchmark rose 2.01% to $131.55 per tonne, the highest level since January 12.
Steel benchmarks on the Shanghai Futures Exchange rose due to higher raw material prices. While rebar increased by 0.34%, hot rolled coil increased by 0.42%, wire rod increased by 0.27%, stainless steel increased by 1.52%.
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