Prices of iron ore have taken a sharp turn upwards, with the steel index up over 2 points, just a fraction shy of the 60 US-dollars-a ton mark.
The rise comes off the back of some optimism over further stimulus from the Chinese government.
Oil markets though are in the red with Brent losing one and a half percent and West Texas crude falling back below 60 U-S dollars a barrel.
The move snaps what was a 3-week winning streak for U.S. Oil Prices, and they were sparked by a broad-based strengthening in the U-S dollar.
Also there is new data showing the slow-down in US drilling is tapering off.
Source: SkyNews
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