Iron-ore futures reverse losses as steel prices extend gains

Chinese iron ore futures recouped early losses to extend their rally into a sixth straight session on Tuesday as steel prices stretched gains amid shrinking inventories and possible fresh output restrictions to curb air pollution. Dalian Commodity Exchange’s most-traded iron ore contract , with January 2020 expiry, ended up 0.6% at 636.50 yuan ($90.63) a tonne. It rose to 638 yuan earlier in the session, the highest since Oct. 28 this year.