RE: Added3 Nov 2016 11:06
losses: Iron ore futures in China rose to the highest in more than two years on Wednesday, supported by stronger steel and coal prices and a mending Chinese economy.Activity in China’s manufacturing sector expanded at the fastest pace in over two years in October thanks to a construction boom, according to data released on Tuesday.Iron ore for January delivery on the Dalian Commodity Exchange climbed as far as 509 yuan ($75) a tonne, its loftiest since July 2014.By 0223 GMT, the contract had eased 0.2 percent to 499.50 yuan, in line with a retreat in other Chinese traded commodities such as aluminium and rubber after recent gains.Dalian iron ore gained 24 percent in October, driving a 16 percent increase in spot iron ore prices.Iron ore for delivery to China’s Tianjin port .IO62-CNI=SI rose 0.9 percent to $64.40 a tonne on Tuesday, the highest since April 29, according to The Steel Index.