Iron ore futures rebounded on Wednesday, as better-than-expected industrial profits data in top consumer China buoyed sentiment, although lingering demand concerns amid persistent weakness in the country’s crisis-hit property market curbed gains.
The most-traded January iron ore on China’s Dalian Commodity Exchange (DCE) ended daytime trading 0.59% higher at 846.5 yuan ($115.89) a metric ton.
The benchmark October iron ore SZZFV3 on the Singapore Exchange rose 0.82% to $115.95 a ton at 0701 GMT.
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.