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Iron ore prices rise

Iron ore futures prices in China rose as steps taken to revive the weak economy in the country, the world's largest steel producer, revived the demand outlook.

Iron ore prices rise

Iron ore futures prices in China extended their gains on demand hopes.

Expectations that China will step up policy steps after loosening some of its strict coronavirus restrictions and providing support to the struggling construction sector have fueled appetite.

The most heavily traded contract on the Dalian commodity exchange, the quarry iron ore futures contract rose 3.3 percent to 753.50 yuan ($105.76) a tonne after hitting 757.50 yuan on the day, its highest level since August 1. closed.

December delivery iron ore futures traded on the Singapore commodity exchange rose 2.1 percent to
$98.95 per tonne.

On the Shanghai futures exchange, rebar rose 0.3 percent and hot rolled steel (HRC) coil 0.8 percent

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