Dalian iron ore extends climb

Dalian iron ore futures on Thursday eyed their fourth straight session of gain, supported by prospects of demand recovery after steel consumption was temporarily capped by rainy weather in many regions last week.

The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) DCIOcv1 added 0.39% to 892 yuan ($129.32)a tonne as of 0212 GMT.

“Hot metal output still has some room for further growth in the short run, lending support to the upstream ore market,” analysts at Huatai Futures said in a note.

Alien Metals Ltd (LON:UFO) is a global minerals exploration and development company that will shortly make the transition to iron ore producer. The company was formed from Arian Silver in late 2018, retaining some of the companies more valuable Mexican projects before embarking on an acquisition led strategy, headed up by an excellent geological team and targeted entirely on Western Australia.

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