Iron ore futures rebounded from two-week lows on Thursday, bolstered by rising steel output in top producer China and expectations of higher demand for the steelmaking ingredient ahead of the country’s Golden Week holiday.
The most-traded January iron ore on China’s Dalian Commodity Exchange DCIOcv1 rose as much as 3.2% to 717.50 yuan ($101.17) a tonne.
On the Singapore Exchange, the benchmark October iron ore contract SZZFV2 climbed as much as 9.2% to $104.50 a tonne. It was up 2.2% at $97.75 a tonne, as of 0336 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.