Dalian iron ore hits 1-1/2 week high on seasonal steel demand

From brecorder.com

Iron ore futures prices strengthened on Thursday, buoyed by seasonal steel demand in top consumer China, outweighing trade war woes sparked by fresh US tariffs. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) traded 1.28% higher at 789 yuan ($108.67) a metric ton, as of 0254 GMT. Earlier in the session, prices hit 792 yuan, their highest since March 17. The benchmark April iron ore on the Singapore Exchange was 0.77% higher at $103.15 a ton. The traditional construction peak season in March and April has led to a seasonal rebound in overall steel consumption, supporting prices in ... (full story)