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Iron ore futures extended Tuesday, Feb. 09, 2021, as concerns over tight market liquidity in China eased, with prices further supported by a positive demand outlook for the steelmaking material in the world’s largest steelmaker. Reuters reported.

Iron ore rises on easing liquidity concerns in China and positive demand outlook
Iron ore rises on easing liquidity concerns in China and positive demand outlook

Iron ore jumped 3.8% higher

The most-traded May iron ore price on China’s Dalian Commodity Exchange jumped as much as 3.8% to 1,057 yuan ($163.90) a ton, hitting its highest level since Jan. 26 for the fourth straight session.

March iron ore climbed 2.7 percent

On the Singapore Exchange, the price of March iron ore climbed 2.7% to $158.70 a ton, reaching the highest level since Jan. 27 and the second straight day of gains.

Source: reuters.com


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