The Iron ore price rose on Thursday, buoyed by hopes of a pick-up in steel demand in China.
China’s success in stamping out its covid-19 outbreak also bolstered the outlook for commodities from copper to oil.
According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $152.92 a tonne, up 2.7% from Wednesday’s closing.
The most-traded iron ore contract for January delivery on China’s Dalian Commodity Exchange ended daytime trading 0.7% higher at 816 yuan ($125.89) a tonne.
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