Dalian iron ore futures rose for a fourth consecutive session on Thursday, underpinned by lingering hopes of further stimulus and restocking needs of steelmakers in top consumer China, although shrinking steel margins capped the gains.

The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trading 0.3% higher at 1,016 yuan ($142.09) a metric ton.

China’s central bank made 350 billion yuan in loans to policy banks through its pledged supplementary lending (PSL) facility in December, fuelling expectations of increased support for the country’s ailing housing sector.

“It’s likely that the PSL will be used for the ‘three major projects’, boosting sentiment,” analysts at Everbright Futures said in a note. see & read more on
https://www.kitco.com/news/article/2024-01-04/dalian-iron-ore-price-extends-gains-hopes-stimulus-replenishment-persist