The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) ended morning trade 2.87% higher at 807.5 yuan ($114.16) a metric ton. The contract had jumped over 3% earlier in the session. The benchmark November iron ore on the Singapore Exchange was 2.11% higher at $108.45 a ton, as of 0350 GMT. Steel benchmarks on the Shanghai Futures Exchange gained ground.
Rebar strengthened nearly 1.8%, hot-rolled coil advanced about 2%, wire rod added 1.17% and stainless steel ticked 0.36% higher. China on Saturday pledged a new package of incremental fiscal policies, which lifted sentiment across various commodities markets, including steel, said Chinese consultancy Mysteel.
U.S. Commerce Dept. confirms 14 countries guilty of dumping aluminium extrusions, levies up to 376.85% tariffs
