Iron ore futures experienced a surge on Thursday, driven by expectations of additional monetary policy easing in China and improved profitability in the steel industry. Renewed hopes of further stimulus measures in China and enhanced steel margins contributed to the positive momentum in iron ore prices. Analysts also noted improved margins for blast furnace-based steelmakers, potentially leading to increased raw material stockpiling. Despite challenges like production restrictions and sluggish steel demand, the market remains optimistic about potential demand growth in the near future.
Iron Ore Prices Rise on Prospects of China Stimulus and Stronger Steel Margins