Iron Ore Rises on Pre-Holiday Restocking

AI Summary

Iron ore futures rose above CNY 710 per ton, rebounding from recent lows as Chinese steelmakers increased seaborne purchases ahead of National Day holidays. Trading volume surged significantly, reflecting robust demand outlook in the iron ore market.

Iron ore futures climbed above CNY 710 per ton, recovering from one-month lows as Chinese steelmakers increased seaborne purchases ahead of the extended National Day holidays in early October. Industry data showed that daily trading volumes for seaborne cargoes surged 43% to 1.41 million tons on September 16 from the previous day. The demand outlook ...