(Jan 12): Iron ore advanced, buoyed by pre-holiday restocking from steel mills and a lift in hot-metal output. “Downstream restocking by steel mills is providing support for iron ore prices,” said Mengtian Jiang, an analyst at China-based consultancy Horizon Insights. Equity markets are, however, taking a more positive view on iron ore this year, according to analysts at Jefferies Financial Group Inc. Singapore futures gained 0.6% to US$109.10 a tonne as of 11.50am local time (same time as Malaysia) while yuan-denominated contracts in Dalian rose 1.2%. Shanghai steel futures also advanced.

Source: The Edge Markets January 12, 2026 05:17 UTC