Iron ore futures rebounded on Monday after last week’s selloffs, as traders bet the bottom has been reached despite lingering concerns about intensified covid-19 restrictions in top steel producer China.
The most-traded January iron ore on China’s Dalian Commodity Exchange ended daytime trade 4% higher at 692 yuan ($99.85) a tonne.
On the Singapore Exchange, the steelmaking ingredient’s most-active October contract was up 4.5% at $98.75 a tonne, as of 0702 GMT.
Cadence Minerals plc (LON:KDNC) provides mining services. The Company focuses on finding lithium and other technology minerals in new places, as well as offers extracting services.