The ASX’s iron ore producers surged on Monday in response to China’s softening of coronavirus prevention measures and new efforts to resuscitate the country’s stricken property sector.
Iron ore futures traded in Singapore rose 3.9 per cent to $US94.85 a tonne on the December contract on Monday. In the spot market, iron ore rose 4.7 per cent to $US92.25 ($142) a tonne on Friday, according to Platts.
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Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
