Benchmark Dalian and Singapore iron ore futures hit four-week highs on Monday as China’s forecast-beating quarterly GDP growth helped shift investor focus back to demand prospects for the raw material in theworld’s top steel producer.
China’s economy expanded 6.5 per cent year-on-year in the final quarter of 2020 and looks poised to expand further this year, lifting market sentiment dampened by the country’s fresh restrictions to curb the spread of Covid-19 infections.
