Iron ore edged higher as traders snapped up spot cargoes, raising their bets on a market recovery that has proved elusive this year amid bountiful supply.
Benchmark 62-percent grade iron ore TSI for immediate delivery to China .IO62-CNI=SI rose 0.4 percent to USD 94.20 a tonne on Tuesday
Iron ore for September delivery on the Dalian Commodity Exchange jumped 2.9 percent to close at CNY 716 (USD 120) a tonne
The August iron ore contract on the Singapore Exchange rose 2.2 percent to USD 97.04 per tonne.
Source – Reuters