Iron ore price extends rally on China post-lockdown demand hopes


Source: newsdome.co.za newsdome.co.za

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[ad_1]r The changes to trading limits and margins will take effect from settlement on March 31. The most-traded Dalian iron ore for September deliveryu00a0ended daytime trade 3% higher at 895 yuan ($140.90) a tonne, after touching 898 yuan, the highest since Aug. 9. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $158.20 a tonne during morning trading, up 3.4% compared to Tuesdayu2019s closing. Optimism over prospects of additional policy support to shore up the worldu2019s second-largest economy and biggest steel producer, and signs of a resilient Chinese industrial sector, have provided strong...