Benchmark 62% Fe fines imported into northern China rose 1.55% to $131.57 per tonne, the highest level since June 2022.
May iron ore, which is the top trader on China's Dalian Commodity Exchange, finished the day trading at 919 yuan ($133.80) per tonne, up 3.4 percent. It hit 922 yuan, the strongest level for the commodity traded in Dalian since July 2021.
BHP Group on Tuesday signaled a bright demand outlook in China. CEO Mike Henry said BHP's confidence in the Chinese economy has been a burgeoning period since the start of the calendar year, including surveys of new loans, home prices, and business sentiment.
Rebar 2.1%, hot rolled coil 1.4%, wire rod 3%, and stainless steel 1.6% in Shanghai Futures Exchange
increased.
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