Dalian iron ore jumps nearly 4 pct on stimulus hopes, Shanghai rebar up

Posted on March 31, 2014 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

SINGAPORE, March 31 (Reuters) – Chinese steel and iron ore futures hit three-week highs on Monday, reflecting optimism that demand for the two commodities will perk up as the world’s top consumer heads into the seasonally brisk consumption period over the next two months.

Hopes that China will move to stimulate a slowing economy, including forging ahead with infrastructure investment, also supported investor sentiment. Dalian iron ore jumped as much as 3.9 percent and Shanghai rebar rose nearly 2 percent.