China's demand optimism drives iron ore rebound
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Update time : 2025-02-20 17:15:43
Iron ore prices rose on Tuesday (February 18), driven by increased optimism regarding demand in China, the world's largest consumer. The March iron ore futures on the Singapore Exchange gained 1.18%
In China, the May iron ore contract on the Dalian Commodity Exchange closed 2.51% higher. Positive sentiment was boosted by strong steel product transactions in Hangzhou, and China's upcoming "Two Sessions" could lead to new policies stimulating consumption.
Additionally, with exports resuming from Australia’s largest iron ore port, the market is now focusing on broader demand trends. Steelmaking products like coking coal and coke also saw gains.
However, GF Futures analysts warned that a slow recovery in ore demand would limit price increases.
