Iron ore futures climbed on Wednesday, recovering from a decline in previous sessions, as investors returned to the market following China’s decision to curb excessive market speculation.
The most-active May iron ore contract on China’s Dalian Commodity Exchange closed daytime trading 0.9% higher at 841.5 yuan ($124.27) per tonne.
Similarly, on the Singapore Exchange, the benchmark February iron ore contract rose 0.7% to $121.40 per tonne as of 0703 GMT.
Cadence Minerals plc (LON:KDNC) is an early stage investment and development company within the mineral resource sector and is listed as an investment company on the London Stock Exchange AIM market and the Aquis Stock Exchange, also based in London. Cadence owns 30% of the Amapa iron ore project, with our joint venture partner, Indo Sino Pty Ltd, owning the remaining 70%.