Iron ore and rebar futures surge further on strong domestic demand

Dalian iron ore futures today surged by RMB 17 d-o-d to RMB 890/t on positive demand outlook in China while Singapore futures increased marginally by $1.31 d-o-d and closed at $111.51/t. As per reports, China’s factory activity expanded at fastest pace in nearly a decade in Jul ’20 as domestic demand continued to improve after the pandemic.