Dalian and Singapore iron ore futures rose on Tuesday, buoyed by news of further government support for Chinese property developers hit by a deepening financial crisis, but China’s worrying economic backdrop capped gains.
The most-traded iron ore, for delivery in January 2023, on China’s Dalian Commodity Exchange ended morning trade 0.3% higher at 724.50 yuan ($106.78) a tonne, after three sessions of losses.
On the Singapore Exchange, the front-month September contract rose 1.6% to $107.65 a tonne following two sessions of sell-off.
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.