Dalian iron ore rose to 823 yuan per tonne on Friday, its highest level since June 15, as China's largest steelmaker loosened Covid-19 restrictions, boosting hopes for a revival in demand.
He said supply could decline as miners undertake seasonal maintenance programs in the first quarter of 2023. This could support iron ore prices and provide an improved outlook for Chinese demand. Rebar rose 0.7%, hot rolled coil 0.9%, wire rod 0.3% and stainless steel 0.5%.
Other Dalian steelmaking inputs also increased, with coking coal and coking coal increasing by 4.8% and 2.6% respectively.
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