Iron Ore Rises on Report China Mills to Temporarily Halt Output

Iron ore gained after a Chinese consultancy said several steel mills had been told by authorities they will need to temporarily halt production later this month due to air pollution concerns.

Futures for the steelmaking material rose by as much as 1.6% in Singapore, following a 2.1% weekly gain. Mysteel issued a report on Saturday that said some mills in the country’s steel-production hub of Tangshan had received notifications to stop producing from Aug. 25 to ensure clean air during the Sept. 3 military parade in the nearby capital.