The most-traded May iron ore on China’s Dalian Commodity Exchange (DCE) ended daytime trading 1.52% higher at 969.5 yuan ($135.12) a metric ton, following a fall of 0.37% a day before.
The benchmark January iron ore on the Singapore Exchange was up 0.63% at $135.85 a ton, as of 0758 GMT, surrendering some earlier gains after hitting an intraday high at $136.35 a ton, the highest since February.
China’s leaders started a closed-door meeting on Monday to discuss economic targets and map out stimulus plans for 2024, Reuters reported, citing four sources familiar with the matter.
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