Iron ore futures surged for a second consecutive session, reaching their highest levels in nearly a week, driven by heightened interest in stockpiling among China’s top consumer. Positive data, including an uptick in fixed asset investment and stabilizing futures prices, contributed to the bullish sentiment. Transaction volumes at Chinese ports saw a significant increase, indicating growing liquidity in the spot market. Analysts anticipate a rise in steel demand from the infrastructure sector, further boosting market outlook and supporting prices of iron ore and other steelmaking ingredients.
Iron Ore Prices Reach Nearly One-Week High on Positive China Data and Increased Spot Market Activity