Neil DennisIron ore and other industrial metals prices kept last week's rally alive on Monday after strong global manufacturing data helped boost demand expectations for key raw materials.
Chinese iron ore and steel futures rose to three-month highs, with iron ore on the Dalian Commodity Exchange up 6% to Rmb555 ($83.88) a tonne.
Meanwhile, steel rebar on the Shanghai Futures Exchange hit a high of Rmb4,104 ($620.50) a tonne, according to Thomson Reuters data - its highest level since 6 September.
Chinese output cuts
Prices in China are also being supported by government efforts to reduce pollution in the largest cities, where many heavy industries have been compelled to curb production to reduce the effects of smog during the winter.
Nickel, a key steelmaking ingredient, was also higher on the InterContinental Exchange (ICE), with three-month futures in the metal up 0.97% at $11,425 a tonne.
Nickel demand
Prices for nickel in recent months have risen on speculation of higher demand for electric cars. Nickel is used in the lithium ion batteries that power electric motors.
Elsewhere, ICE three-month copper futures were up 0.58% at $6,855.25 a tonne.
