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Iron ore prices increased in anticipation of rising steel demand

Manufacturing data in China, the world's largest steelmaker, increased on Wednesday on hopes that better-than-expected demand would revive.

Iron ore prices increased in anticipation of rising steel demand
China's manufacturing data (PMI) increased from last month, to 52.6, the highest level since April 2012.
Manufacturing data in China, the world's largest steelmaker, increased on Wednesday on hopes that better-than-expected results will revive demand.
The most traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) ended its daytime trading at $131.64 (908.5 yuan), increased by 2.42%, after closing the previous session down by nearly 0.8%.
On the Singapore Stock Exchange, the iron ore indicator in April increased by 2.17% to $126.05 per tonne.
Coal increased by 1.86%, while coking coal was little changed at 2,033.5 yuan per tonne.
On the Shanghai Futures Exchange, rebar increased by 1.1%, hot-rolled coil increased 1.1% and wire rod increased by 0.98%. Stainless steel decreased by 1.36%.

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