Iron ore futures rise to near four-week high – Reuters

China’s Dalian iron ore futures jumped to nearly four-week peak on Monday on low inventory at ports.

Benchmark iron ore contract on the Dalian Commodity Exchange rose to as high as 492 yuan ($71.30) a tonne when the market opened, a level last seen on Nov. 22. It was up 1.5 percent to 488 yuan a tonne as of 0203 GMT, according to Reuters.

So far, however, the rise in iron ore futures has failed put a bid under the Aussie dollar.