BEIJING (Reuters) - Iron ore futures gained on Thursday as strong steel consumption data from top consumer China boosted sentiment, shifting investor focus to prospects of growing ore demand and spurring a wave of short covering.
The most-traded May iron ore contract on China's Dalian Commodity Exchange (DCE) ended daytime trade 2.26% higher at 837 yuan ($115.15) a metric ton.
The contract touched the highest since October 8 at 838.5 yuan a ton earlier in the session.
The benchmark March iron ore on the Singapore Exchange rose 1.65% to $108.45 a ton, as of 0739 GMT, the highest since February 14.
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
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