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Iron ore spikes, but China intervention fears weigh

Dalian and Singapore iron ore futures advanced on Wednesday, reflecting optimism about demand prospects for steel products and raw materials in China, but concerns about China intervention weighed.

Iron ore
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Iron Ore; (Photo: Bloomberg)

Reuters Manila
Dalian and Singapore iron ore futures advanced on Wednesday, reflecting optimism about demand prospects for steel products and raw materials in China, but concerns about the regulatory environment in the world's top steel producer capped gains.
 
The most-traded iron ore for May delivery on China's Dalian Commodity Exchange rose 0.8% to 711 yuan ($112.38) a tonne, extending gains to a third day but moving between losses and gains during morning trade. On the Singapore Exchange, the steelmaking ingredient's front-month March contract rose 2.3% to $139.80 a tonne by 0404 GMT.
 
Despite intensified efforts from Chinese regulators to rein in the

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