Iron ore extends gains on resilient China demand

From brecorder.com

Iron ore futures climbed for a third straight session on Tuesday, aided by resilient near-term demand in top consumer China, although expectations of potential steel production control ahead of Beijing’s key event capped gains. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) traded 0.38% higher at 792 yuan ($110.33) a metric ton, as of 0200 GMT. The benchmark September iron ore on the Singapore Exchange was 0.3% higher at $101.5 a ton. Fundamentals of iron ore remained healthy amid firm demand, analysts at broker Shengda Futures said, supporting prices of the key steelmaking ... (full story)