Iron ore futures climbed back above CNY 800 per ton, halting a recent decline as trading resumed in China following a holiday-extended weekend, while investors continued to assess uncertainties surrounding the Middle East conflict.

Markets are focused on President Donald Trump’s deadline for Iran to reach a deal or face attacks on civilian infrastructure, with the risk of a prolonged conflict fueling concerns over supply disruptions and a global economic slowdown.

Iron ore also drew support from demand optimism after calls from Beijing to accelerate energy-related construction projects.

President Xi Jinping highlighted plans to develop a new energy system to strengthen national energy security, including the construction of a major hydropower dam on the eastern edge of the Tibetan Plateau.
Source: Trading Economics