The price of spot iron ore for delivery to northern China has rallied from a two-year low as some optimism creeps back into the market.

Sentiment was already upbeat before China announced the relaxed covid-19 curbs, despite a surge in new case numbers.

Almost all major commodities traded higher following China’s move to reduce the time that travelers and close contacts of infected people must spend in quarantine.

Rio has struggled to win investor support for the Turquoise Hill deal, forcing it to offer unusual terms to the most stubborn holdouts which appeared to be enough to close the deal.

Gold prices jumped to a more than two-month high on Thursday as data showed US inflation cooled off a bit in October.

A lesser-known corner of mine financing is having a moment in the sun, with two royalty and streaming deals announced on Thursday.