Iron Ore Rebounds on Short-Covering and China Restocking Bets
Iron ore prices rose as short-covering and expectations of pre-holiday restocking by Chinese steelmakers supported the market. The most-traded Dalian iron ore contract climbed 1.27% to 680 yuan.
Iron ore prices rebounded on Wednesday, supported by short-covering and expectations that steelmakers in top consumer China will begin restocking ahead of the Lunar New Year holiday.The most-traded iron ore contract on China's Dalian Commodity Exchange (DCE) COMEX:TIO1! climbed 1.27% to 680 yuan…