Mineral Resources
Iron ore reaches two-week highs on China's stimulus hopes and firm near-term demand
Iron ore prices rose on Monday, reaching their highest level in two weeks. This was due to a strong near-term demand as well as renewed hopes for stimulus from China, the world's largest consumer after a series of disappointing data. The January contract for iron ore on China's Dalian Commodity Exchange closed the daytime trading 1.81% higher, at 788.5 Yuan ($110.97), its highest level since Nov. 3. As of 0715 GMT the benchmark December iron ore traded on the Singapore Exchange increased 1.57% to $104.2 per ton. This is its highest level since Nov. 4. In an interview given to...