Iron ore futures rose on Tuesday, boosted by better-than-expected credit data from major iron ore consumer China and a stronger yuan.
The October iron ore benchmark on the Singapore Exchange rose 1.19% to $118.75 per metric tonne by 0706 GMT, its highest level since March 31.
Iron ore, the most traded January commodity on the Dalian Commodity Exchange, closed daytime trading at 859 yuan ($117.76) per tonne, up 1.96%, recording its highest level since September 7.
Additionally, coking coal increased by 5.06% and coke increased by 3%, reaching the highest level in six months.
There was also a general increase in the Shanghai Futures Exchange. While rebar increased by 1.36% and hot rolled coil increased by 1.52%; stainless steel SHSScv1 fell 1.02%.
Iron ore continued to increase in CME. It was recorded at 127 USD on Tuesday.
Comments
No comment yet.