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Iron ore rebounds from two-year low on dip buying, improving steel margins
Iron ore prices rebounded on Friday after touching more than two-year lows the day before, aided by a raft of dip buying amid signs of improving steel margins and downstream consumption in top consumer China. The most-traded iron ore contract on China’s Dalian Commodity Exchange rose 0.22% to 673.5 yuan ($100.65) a metric ton, as of 0157 GMT, losing 1.3% so far this week. The benchmark November iron ore on the Singapore Exchange was 0.56% higher at $90.35 a ton, as of 0147 GMT. It has dropped 0.3% so far this week. Market sentiment was boosted by slightly improved profitability among steel mil...
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