Iron Ore Edges Higher After Weekly Gain Before China GDP Data

Iron ore edged higher after its biggest weekly gain since January, with traders waiting for Chinese data that may show its economy expanded more than the government’s target last quarter.

Futures of the steel-making staple rose as high as $99.90 a ton early Monday, after climbing 3.6% last week. China’s economy potentially expanded just above the 5% full-year growth target, government figures are expected to show Tuesday. While that would be a positive demand signal, it also could mean policymakers would be less likely to offer up more stimulus in an upcoming meeting of senior leaders.