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2026.04.0102:47:42UTC+00Iron Ore Rises as Stimulus Bets Rise

Iron ore futures climbed to around CNY 815 per ton, rebounding after several weeks of range-bound trading as renewed expectations of policy support and stronger-than-anticipated economic data from China improved market sentiment. The rally was driven primarily by an acceleration in China’s manufacturing activity, which expanded at its fastest pace in about a year, signaling firmer industrial demand. Confidence was further underpinned by the People's Bank of China’s commitment to maintain accommodative monetary conditions, reinforcing expectations of additional stimulus. Still, upside momentum was constrained by high inventory levels at Chinese ports, which remain close to record highs. At the same time, prices for other steelmaking inputs moved lower, with coking coal and coke declining on easing concerns over global energy supply disruptions amid signs that tensions involving Iran may de-escalate.

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