Iron ore futures soared on Monday, extending a rally spurred by hopes of an economic rebound for top steel producer and consumer China in the third quarter, and support for the country’s troubled property sector.
The most-traded iron ore, for September delivery, on China’s Dalian Commodity Exchange DCIOcv1 ended daytime trade 7.1% higher at 711 yuan ($105.27) a tonne, after earlier hitting 723.50 yuan, its strongest level since July 14.
Cadence Minerals plc (LON:KDNC) provides mining services. The Company focuses on finding lithium and other technology minerals in new places, as well as offers extracting services.