Iron ore: Futures contracts are strengthening : Orishas-finance

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Iron ore: Futures contracts are strengthening

02/04/2025

Source : ORISHAS FINANCE

Categories: Raw materials

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Iron ore: Futures contracts are strengthening

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Backed by resilient seasonal demand for the key ingredient in steelmaking that countered concerns about a trade war before U.S. tariffs loomed, iron ore futures strengthened on Wednesday.

The most traded iron ore contract in May on the Chinese Dalian Stock Exchange (DCE) gained 1.15% to 792 yuan (108.95 dollars) per ton at 02:57 GMT. May's reference iron ore on the Singapore Stock Exchange fell by 0.09% to 102.8 dollars per ton.

Iron ore in Dalian reached its highest level in nearly a month thanks to rising Chinese demand.

According to Steelhome data, total iron ore inventories in Chinese ports declined by 0.65% weekly to 137.6 million tons as of March 28.

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