Commodity prices from iron ore to oil rallied on Tuesday as concerns eased about the impact of Covid-19 on the Chinese economy.
Iron ore prices soared 8 per cent, while oil prices traded back above $70 a barrel, as traders grew more confident about the prospect for demand in China.
The price moves come after a sharp sell-off last week in which iron ore endured its largest single day price drop since at least 2008 owing to concerns about the spread of the Delta coronavirus variant in China.
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