Iron ore in China improved due to tight stocks and increased demand.
DCIOcv1, the most traded iron ore in May on the Dalian Commodity Exchange (DCE), rose 3.5% at the close, reaching 948.5 yuan ($132.77) per metric ton. Additionally, coking coal DJMcv1 increased by 2.7% and coke DCJcv1 increased by 0.4%.
On the Singapore Exchange, January benchmark iron ore SZZFF4 rose 2.3% to $133.91 per metric tonne.
The most active rebar contract on the Shanghai Futures Exchange SRBcv1 increased by 1.3%, hot rolled coil SHHCcv1 increased by 1.2% and stainless steel SHSScv1 increased by 0.7%, while wire rod SWRcv1 decreased by 0.3%.
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