Iron ore futures in China started to recover following the support in the real estate sector. The most traded iron ore contract in May on the Dalian Commodity Exchange (DCE) was recorded at 976.5 yuan ($136.42) per tonne in daytime trading, after hitting a three-week low of 952.5 yuan at the beginning of the session. . Additionally, coking coal DJMcv1 rose 2.07% and coke DCJcv1 rose 0.97%.
The February iron ore benchmark on the Singapore Exchange rose 1% to $134.1 per metric ton as of 07:00 GMT. It hit an almost four-week low at $131.5 earlier in the session.
On the Shanghai Futures Exchange, rebar SRBcv1 increased by 0.21%, hot rolled coil SHHCcv1 increased by 0.4%, stainless steel SHSScv1 increased by 2.45%, while wire rod SWRcv1 decreased by 0.65%.
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