Iron ore futures rose on Tuesday, with the Singapore benchmark price hitting its highest in five months.
Iron ore futures rose on Tuesday, with the Singapore benchmark price hitting its highest in five months after top steel producer China decided to scrap quarantine rules for visitors, boosting investor sentiment.
On the Singapore Exchange, the steelmaking ingredient’s benchmark January contract SZZFF3 rose by as much as 3.4% to $114.30 a tonne, the loftiest since late July. Traders also cheered China’s moves to shore up its slowing economy.
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