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Iron ore futures prices in China have soared in anticipation of the easing of corona virus bans.
Quarry iron ore futures, the most traded contract on the Dalian Commodity Exchange, rose 4.9% on the day to close at 662.50 yuan ($ 91.35) per ton.
Iron ore recorded its largest monthly decline in the past 22 months in October, mainly due to pessimistic demand expectations in China.
On the Singapore Commodity Exchange, the December iron ore contract rose 5.5% to $ 86.20 a ton.
Prices for rebar and hot rolled steel (HRC) coils on the Shanghai Futures Exchange increased by 2%, while stainless steel prices increased by 0.8%.
Dalian coke futures prices rose 5.3%, while coke futures prices rose 3.8%.