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Iron ore rises on expected Chinese steel mill restocking
Iron ore prices rose on Monday, supported by expectations of restocking by Chinese steelmakers following a week-long holiday, although prospects of increased supply capped gains. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE) ticked up 0.15% to 684.5 yuan ($102.27) a metric ton, as of 0158 GMT. The benchmark November iron ore on the Singapore Exchange was 0.67% higher at $91.2 a ton, as of 0148 GMT. Prices of the key steelmaking ingredient fell last week as subdued demand and expectations of rising supply weighed on the market. Restocking during the three working ...
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