Iron ore futures in China have risen in a row on hopes that stimulus for the property sector will work despite the sluggish steel market.
January's most-traded iron ore on the Dalian Commodity Exchange (DCE) rose 1.68% in day trading to settle at 966.5 yuan ($132.46) per metric tonne. This level was a new high since August 2021. Coking coal DJMcv1 and coke DCJcv1 were up 1.21% and 0.41%, respectively.
On the Singapore Exchange, the reference benchmark for December iron ore SZZFZ3 rose 0.98% to $128.05 a tonne as of 07:24 GMT. This level was recorded as the highest level since 20 March.
On the Shanghai Futures Exchange, steel benchmarks were generally lower. Hot rolled coil SHHCcv1 was down 0.35%, wire rod SWRcv1 down 0.25% and stainless steel SHSScv1 down 2.1%, while rebar SRBcv1 was slightly higher.
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