Iron ore price bounced back above the $100 mark on Monday, as China sought to ease concerns over financial distress facing its property sector.
According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $100.38 a tonne Monday morning, up 4.52%, rebounding from an eight-month low of $96 hit on Friday.
On China’s Dalian Commodity Exchange, the most-traded September iron ore contract ended daytime trade 2.2% higher at 679 yuan ($100.63) a tonne.
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