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.
Hindalco signs MoU to invest ₹15000 crore in aluminium capacity expansion in Madhya Pradesh
EU expands sanctions on Russian aluminium: industry calls for closing loopholes
Fundamental weakness makes it difficult to sustain upward momentum in aluminium prices; short-term price correction observed
