Iron ore price jumps on China data

Iron ore futures jumped on Wednesday, as better-than-expected China manufacturing activity data raised hopes for a demand rebound in the world’s top steel producer.

The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) ended daytime trade 2.42% higher at 908.5 yuan ($131.64) a tonne, after closing about 0.8% lower in the previous session.

On the Singapore Exchange, the benchmark April iron ore was up 2.17% at $126.05 a tonne, as of 0703 GMT, extending gains.

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%. 

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