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Iron ore rises on hopes of China demand pick-up after Beijing Olympics

Iron ore futures rose on Thursday, on expectations of a recovery in Chinese demand for the steelmaking raw material after the Beijing 2022 Olympics next month

Iron ore
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Iron ore

Reuters
Iron ore futures rose on Thursday, on expectations of a recovery in Chinese demand for the steelmaking raw material after the Beijing 2022 Olympics next month, while spot prices also remained well supported by restocking demand.

Top steel producer China is expected to maintain output restrictions to ensure clean air during the Games.

The most-active iron ore for May delivery on China's Dalian Commodity Exchange climbed by up to 4% to 716 yuan ($112.32) a tonne, its highest since Dec. 27.

On the Singapore Exchange, iron ore's most-traded contract expiring by end-February rose as much as 2.1% to $126.85 a tonne, its strongest

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