The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) ended morning trade 0.19% lower at 783 yuan ($109.96) a metric ton, after hitting a intraday high of 789.5 yuan a ton earlier in the session.
The benchmark December iron ore on the Singapore Exchange was flat at $103.7 a ton, as of 0353 GMT. Both benchmarks ticked higher earlier in the session after official data showed China’s manufacturing activity in October expanded for the first time in six months, indicating that Beijing’s latest stimulus measures are helping the battered economy turn a corner.
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