Markets are profoundly irrational things:
The most-traded January iron ore on China’s Dalian Commodity Exchange DCIOcv1 ended daytime trade 4.5% higher at 805.50 yuan ($110.52) per ton, extending its rally to a ninth straight session.
“The implementation of macro and micro-targeted fiscal and monetary easing policy measures on a municipal and provincial level appears to be back in vogue and picking up momentum,” said Navigate Commodities Managing Director Atilla Widnell.
