China's Dalian iron ore futures rose on strong demand and positive economic data.
January's most-traded iron ore on the Dalian Commodity Exchange (DCE) rose 1.9% to 980 yuan ($136.92) per metric ton. Additionally, coking coal increased by 1.6% and coke by 1.4%.
The January iron ore benchmark on the Singapore Exchange rose 2% to $129.05 per metric tonne by 0730 GMT.
Looking at the Shanghai Futures Exchange, the most active rebar contract SRBcv1 increased by 1.1%, hot rolled coil increased by 1.3% and wire rod SWRcv1 increased by 1.5%. Meanwhile, stainless steel SHSScv1 fell 0.2%.
In addition, analysts state that Chinese iron ore imports will remain strong in 2023.
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