Iron Ore Climbs to Four-Month High on Optimism for China

(Bloomberg) — Iron ore rose to the highest level in almost four months on signs Chinese authorities will announce more support for the property sector at a key meeting next week.

Futures advanced in Singapore, extending gains to almost 50% since a 45-month low at the end of October. The steelmaking ingredient has been buoyed by a steady stream of policies favorable to the real estate industry in the world’s most-populous nation.