Physical iron ore was traded at higher prices on Monday February 5 in line with further increases in China's steel and futures markets.
Key driversChinese ferrous futures advanced across the board during the day, with the benchmark contract for iron ore rising 2.5% from the settlement price last Friday, while those for coke and coking coal posted more-impressive gains of 4.2-4.7%.The general uptrend in China's ferrous markets is likely due to a bottoming-out of the physical coke market rather than news about the Dalian Commodity Exchange being given approval to open its iron ore futures to...