Iron ore futures prices in China are poised to close the fourth week in a row with gains as they hit a seven-week high amid rising expectations for a recovery in steel demand.
Iron ore futures for May delivery, the most heavily traded contract on the Dalian commodity exchange, rose 1.9 percent on the day to close at 676.50 yuan ($106.21) per tonne, its highest level since October 28.
On the Singapore stock exchange, the January iron ore contract was trading at $117.4, up 0.4 percent.
Hot rolled steel (HRC) coil prices rose 0.4 percent, while rebar prices rose 0.7 percent on the Shanghai futures exchange.
Stainless steel prices are down 0.3 percent. Coke prices rose 3.3 percent on the Dalian commodity exchange, while coke rose 0.9 percent.
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