Iron ore futures climbed more than 3% on Tuesday as Beijing was seen preparing an additional sovereign debt issuance as part of efforts to spur economic growth, while worries persisted about a deepening crisis in China’s property sector.
The most-traded January iron ore on China’s Dalian Commodity Exchange ended daytime trade 3.8% higher at 864.50 yuan ($118.34) per metric ton, after a three-session slump.
On the Singapore Exchange, the benchmark November contract was up 3.1% at $116.25 per ton, as of 0718 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.