Iron ore climbs to over 5-week high on Sino-US trade optimism

From brecorder.com

Prices of iron ore futures climbed to the highest point in more than five weeks on Wednesday, driven by moves from the United States and China to cut tariffs following a trade agreement, bolstering hopes for a lasting resolution to the trade dispute. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) was up 1.81% at 732.5 yuan ($101.51) a metric ton, as of 0215 GMT. The contract hit its highest level since April 7 at 736.5 yuan a ton earlier in the session. The benchmark June iron ore on the Singapore Exchange was 1.6% higher at $101.1 a ton, as of 0205 GMT. Earlier in the day, ... (full story)