Iron ore futures rose on positive sentiment regarding low inventories in China.
Iron ore, the most traded January item on the Dalian Commodity Exchange, rose 0.4% in daytime trading and was recorded at 866.5 yuan per metric ton. Additionally, coking coal decreased by 1.8% and coke by 1.5%.
On the Singapore Exchange, November iron ore rose 1% to $116.85 per metric tonne.
While the rebar contract increased by 0.3%, hot rolled coil by 0.1% and stainless steel by 0.3% on the Shanghai Futures Exchange; wire rod fell 1.1%.
In addition, China's crude steel production decreased by 5% in September 2023 compared to the previous month.
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