Strong hot metal output offsets global energy price pressure.

Dalian Iron Ore Extends Rally on Steady Steel Demand.

Iron ore futures in China extended gains for a fourth straight session, supported by steady demand from steelmakers, even as prices in Singapore edged lower on easing energy costs. The most-traded September contract on the Dalian Commodity Exchange rose 0.25% to 814 yuan ($119.61) a tonne, reflecting sustained consumption as hot metal production remained at elevated levels. Analysts expect hot metal output to peak in April, underpinning near-term iron ore demand, although higher prices have begun to curb transaction volumes. Market sentiment has also been supported by steady destocking, which has reduced upward resistance on prices. In contrast, the benchmark June contract on the Singapore Exchange slipped 0.12% to $110.35 a tonne, pressured by lower energy costs after a sharp fall in oil prices, easing shipping expenses. Supply concerns also linger after mining activity halted at parts of Guinea’s Simandou project, operated by a consortium led by Baowu Resources, even as rail and port operations continue.