Iron ore futures rebounded on Monday as risk-off sentiment hurt by Chinese intervention last week eased, while low inventories amid rising stockpiling needs, improving steel margins and concerns over supply disruptions helped the market.
The benchmark December iron ore SZZFZ3 on the Singapore Exchange climbed 1.98% to $131.05 a metric ton, as of 0702 GMT.
The most-traded January iron ore on China’s Dalian Commodity Exchange (DCE) DCIOcv1ended daytime trading 0.47% higher at 968 yuan ($134.24) a ton after two sessions of losses.
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.