Chinese iron ore and steel futures edged higher on Wednesday on optimism that surging COVID-19 infections in the country would prompt stimulus measures to shore up the world’s second-largest economy.
Top steel producer China will likely map out more stimulus steps to underpin growth next year and ease disruptions caused by the relaxation of COVID-19 curbs, Reuters reported citing policy insiders and analysts.
The most-traded iron ore for May delivery on China’s Dalian Commodity Exchange ended a volatile morning trade 0.6% higher at 802.50 yuan ($115.31) a tonne.
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.