Iron Ore Leads Industrial Metals Higher as China Pledges Support
- Futures for steel-making material jump above $130; nickel up
- China’s central bank to roll out policies to stabilize growth
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Iron ore led gains among industrial metals as China vows to use more monetary policy tools to spur the economy, brightening the outlook for raw materials demand.
Futures in Singapore climbed over 3% to more than $130 a ton, while base metals including nickel continued their new year rally.