Chinese iron ore futures surge again

Photo: Getty Images.

For a second consecutive session, Dalian iron ore futures are on a tear.

Following Friday’s 3.95% gain – nearing the maximum allowable daily increase according to exchange specifications – the most actively traded January 2016 contract once again nudged the cap again on Monday, reaching 3.97%.

In the absence of a late selloff, it suggests there’ll be another hefty increase in the spot price later on this evening.

Spot pricing for Monday will be released by Metal Bulletin at 9pm AEST.

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