Reported about 2 months ago
Iron ore prices rose for the third consecutive day, recovering from a significant previous drop, as expectations grow that Chinese authorities will implement measures to revitalize the struggling property market. Prices climbed 3.5% in Singapore following reports that Beijing may enable local governments to purchase unsold homes with special bonds, a move aimed at boosting demand for iron ore, which has suffered due to declining construction and economic slowdowns in the country.
Source: YAHOO