ANFGF - Iron ore pushes to 10-month high on supply concerns demand optimism

Chinese iron ore futures extended last week's strong gains to reach a 10-month high on Monday, Reuters reports, as shrinking stocks at Chinese ports boosted a rally sparked by optimism around the lifting of COVID-19 restrictions that have hurt steel demand. Coking coal also extended gains to hit six-week highs as China resolves to stimulate its slowing economy. Top global iron ore producers Rio Tinto (NYSE:RIO), BHP (NYSE:BHP) and Vale (NYSE:VALE) are all indicated modestly higher in pre-market trading; other relevant tickers include (OTC:ANFGF), (OTCPK:GLNCY), (OTCPK:GLCNF), (OTCQX:AAUKF), (OTCQX:NGLOY). Benchmark September iron ore (SCO:COM) on China's Dalian Commodity Exchange ended daytime trading +0.7% at 925 yuan/metric ton ($139.02), after rising to 948 yuan earlier in the session, its best level since early August, and Dalian coking coal was +4%; iron ore in Singapore +0.7% to $143.75/ton to head for its highest close in a month. "Slower arrivals and a continuation of robust

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Iron ore pushes to 10-month high on supply concerns, demand optimism