20 Nov, 2025

Iron ore gains on firm demand

BEIJING: Iron ore futures prices rose on Wednesday to hit their highest in more than two weeks, helped by remaining firm demand in top consumer China and its falling home supply.

The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) rose 0.89percent to 792.5 yuan (USD111.49) a metric ton, as of 0240 GMT, its highest since November 3.

The benchmark December iron ore on the Singapore Exchange was up 0.19percent at USD104.6 a ton, as of 0230 GMT, after touching its highest since November 4 at USD104.7 earlier in the session. Chinese steel mills have been adopting a low-inventory strategy for raw materials in the past three years as margins have been squeezed by falling steel prices amid a protracted property downturn, said analysts and traders.

Originally published on brecorder

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