Dalian iron ore futures rose on Monday, extending gains to a fourth consecutive session, as hopes of stronger demand in top steelmaker China supported market sentiment.
The most-traded May iron ore on China’s Dalian Commodity Exchange ended day-time trade 1.0% higher to 894.0 yuan ($130.35), after hitting a contract high of 898.5 yuan earlier in the session.
On the Singapore Exchange, the benchmark March iron ore was up 0.2% at $125.80 a tonne, as of 0715 GMT.
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.