Despite the increasing cases in China, it was announced that some of the strict corona virus restrictions would be relaxed and policy changes would be made.
The most heavily traded contract on the Dalian commodity exchange, the quarry iron ore futures contract rose 2.4 percent to 736 yuan a tonne after hitting 736.50, the highest level since Oct. 11, on the day.
December delivery iron ore futures traded on the Singapore commodity exchange rose 5.2 percent to $99.60 per tonne, the highest level since September 16.
On the Shanghai futures exchange, rebar rose 2.3 percent, hot rolled steel (HRC) coil 1.4 percent and stainless steel 2.2 percent.
Dalian coke futures prices rose 1 percent and coke futures prices rose 1.5 percent.
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