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 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.
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