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Iron ore on the rise

Iron ore futures prices in China rose, boosting gains after officials said they needed to minimize the impact of the coronavirus on the economy.

Iron ore on the rise

Iron ore futures prices rose in China, traders watch for coronavirus policy adjustments.

The statement strengthened the expectations that more targeted policies will be followed in controlling the epidemics.

The most heavily traded contract on the Dalian commodity exchange, the quarry iron ore futures contract rose 4.1 percent on the day to 702 yuan ($97.89) per ton, closing at 700 yuan at the latest 3.8 percent after seeing it.

December delivery iron ore futures traded on the Singapore commodity exchange rose 4.4 percent to $90.35 per tonne.

Rebar and hot rolled steel (HRC) coils rose 2.2 percent on the Shanghai futures exchange.

Stainless steel, on the other hand, rose 4.1 percent.

Dalian coke futures prices rose 2.4 percent and coke futures prices rose 3.5 percent.

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