Spot Iron Ore Ticks Higher

Reuters reported iron ore is expected to rise slightly this week as Chinese steel mills return to work and stock up on the metal.

As quoted in the market news:

China’s slack steel demand meant a slow start for iron ore this year, which gained a modest 3.5 percent versus a more than 12 percent rise for copper, another key construction material.

The most-traded May rebar contract on the Shanghai Futures Exchange has risen 3 percent so far this year, closing nearly flat at 4,330 yuan ($690) a tonne on Monday.

Click here to read the full Reuters report.