Iron ore up

MANILA: Iron ore prices climbed on Thursday, with the Dalian benchmark rising to a more than six-month high, as optimism over demand prospects in top steel producer China outweighed concerns about a surge in the country’s Covid cases.

The most-traded iron ore on China’s Dalian Commodity Exchange for May delivery ended morning trade 1.5% higher at 844.50 yuan a tonne, after initially touching 846 yuan, its highest since mid-June. On the Singapore Exchange, the steelmaking ingredient’s benchmark January contract climbed 0.7% to $113.90 a tonne.