Dalian iron ore reached to highest level of 17 months with the demand optimism in China

Iron ore prices which hit the bottom in October, also turn back and become one of the biggest winners in commodity complexity with the China’s sudden shift from the ‘’zero covid’’ strategy and policy support for the unwell real estate sector.

Global supply concerns are also driving up iron ore prices, with analysts citing weather-related disruptions in Brazil and possible hurricanes in Australia, the world's largest exporters of steelmaking components, and first-quarter mine maintenance schedules.

Iron-ore’s top traded contract on May in China’s Dalian Commodity Exchange rose 3.4 percent to 881 yuan ($130.96) tons and closed daytime trading, after previously hitting its highest level since August 2021 at 883 yuan.