Market: the price of iron increases to 132.05 USD per ton
The price of iron ore rose on Friday, fueled by demand hopes as Beijing pledged to step up policy support to stabilize the economy.
At a Politburo meeting chaired by President Xi Jinping on Friday, Xi said China would adopt a set of policies to help pandemic-hit industries, step up infrastructure construction and support the healthy development of the real estate market.
The benchmark iron ore on the Dalian Commodity Exchange jumped 4.2% to 870 yuan ($132.05) a ton at the close.
China announced on Thursday that it would cut import duties on all types of coal to zero, in a bid to ensure energy security amid soaring global prices and supply disruptions.
