Iron ore rises on China stimulus speculation

Iron ore prices rose nearly 3 per cent in Singapore, marking a continuation of strong gains following an 18 per cent surge over the past two weeks.

The increase is fueled by speculation that China’s top economic planner, the National Development and Reform Commission (NDRC), will announce new stimulus measures in a briefing on Tuesday. Beijing has already introduced support measures like interest-rate cuts and property sector aid, boosting global metals prices.

A week-long public holiday in China delayed further announcements, but analysts expect more public spending to be unveiled, potentially driving further gains. Iron ore futures rose 1.6 per cent to $110.30 per ton, while other metals showed little movement.

Attribution: Bloomberg

Subediting: M. S. Salama