Aug 11 (Reuters) - Dalian and Singapore iron ore futures advanced on Thursday, as restocking demand underpinned spot prices in top steel producer China, although doubts about the sustainability of a recovery in demand capped gains.
The most-traded iron ore, for delivery in January next year, on China's Dalian Commodity Exchange DCIOcv1 ended morning trade 1.8% higher at 737.50 yuan ($109.44) a tonne, up for a second straight session.
On the Singapore Exchange, the front-month September contract SZZFU2 rose 2.2% to $112.30 a tonne.
Benchmark 62%-grade iron ore's spot price for the China-bound material settled at $111 a tonne on Wednesday, up 11% from the year's low at $100 last touched on July 21, according to data from consultancy and industry news provider SteelHome. SH-CCN-IRNOR62
"The production of molten iron broke the downward trend, (rising) for six consecutive weeks," analysts at Sinosteel Futures said in a note.
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging
Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
