Iron ore extends gain on China's property sector support, supply worry

IndiaTimes Tuesday, 21 November 2023 ()
Iron ore futures extended gains for a second session on Tuesday, as sentiment was boosted by Beijing's latest support to the property sector and lingering concerns over possible supply disruptions. The most-traded January iron ore on China's Dalian Commodity Exchange (DCE) added 2.6% to 985 yuan ($136.59) a metric ton, as of 0238 GMT. Chinese regulators are drafting a list of 50 real estate developers eligible for a range of funding, Bloomberg News reported on Monday, citing people familiar with the matter.

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