China's iron ore futures continued to rise on Thursday on higher export figures and positive news from major producers.
Iron ore, the most traded commodity for May on China's Dalian Commodity Exchange (DCE), rose 3.9% at the close to 941 yuan ($131.46) per metric ton. Additionally, coking coal increased by 2.3% and coke by 4%.
The January iron ore benchmark on the Singapore Exchange rose 1.8% to $131.65 per metric tonne.
Steel benchmarks on the Shanghai Futures Exchange rose. The most active rebar contract rose 2.2%, hot rolled coil rose 3.2%, wire rod rose 2.2% and stainless steel rose 1.3%.
In addition, China's iron ore imports increased by 3.4% in November 2023 compared to October 2023 due to the increase in producers' margins and the recovery in the yuan.
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