the Stock price of iron ore in China rose on Wednesday, climbing by 2.9% in the morning session amid high demand for the plants in anticipation of local holidays and rising tension in the middle East.
On the Dalian commodity exchange futures for iron ore increased by 2.7% to 684 yuan (about 98,43 U.S. dollars) per tonne as of 02:45 GMT, supporting a steady trend after climbing to 685 yuan per tonne on the previous trading session.
oil Prices are also rising more than a cent in trading Wednesday on the news of the Iran attack on two American military bases in Iraq.
the Islamic revolutionary guard Corps announced on Wednesday that American military bases in Iraq had suffered rocket attacks. The campaign, called "the Martyr Soleimani", was implemented in response to the death of 3 January in Iraq, an Iranian military commander Qassem Soleimani in a special operation American military.
the Assistant head of the Pentagon, Jonathan Hoffman confirmed this information. He noted that "around 17:30 Iran launched the more than 10 ballistic missiles at US military bases and the coalition in Iraq". "It is clear that the missile launch was carried out from the territory of Iran," said Hoffman. Strikes, according to him, was inflicted on the bases of al-Assad and Erbil, where the staff of the U.S. air force and coalition.
Oil rose sharply on Friday after it became known about the death of Soleimani.
According to the strategist at the Asian markets AxiTrader Ltd. Stephen Innes, "the market begins to actively respond to risks to supplies".
