Iron ore hits fresh three-month high

Dalian and Singapore iron ore futures continued uptrend on Wednesday, but gains narrowed as some investors retreated to the sidelines on weak industrial data in top consumer China, and expectations of fresh stimulus measures faded.

The most-traded September iron ore on the Dalian Commodity Exchange (DCE) ended daytime trading 2.47% higher at 830.5 yuan a metric ton, the highest since March 15.

The benchmark July iron ore on the Singapore Exchange was 0.78% higher at $113.45 a metric ton, the highest since June 19.

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.

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