Iron ore futures rose on Tuesday, with Singapore prices rebounding after two straight sessions of losses, as top steel producer China resumed ramping up output to cash in on increased construction activity during the September-October peak season.
Benchmark October iron ore on the Singapore Exchange climbed 1.5% to a session high of $97.05 a tonne, while the September contract rose 0.2% to $98.60.
On China’s Dalian Commodity Exchange, the most-active January iron ore contract ended daytime trade 1.1% higher at 718.50 yuan ($100.36) a tonne.
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