The hope can be seen in the domestic iron ore price, with contracts on the Dalian Commodity Exchange outperforming Singapore futures. There are also some fundamental supports for the iron ore price, most noticeably declining inventories at China's ports. In the same week last year, inventories were at 128.3 million metric tonnes, or 1.6% above the current level. China iron ore imports vs SGX price:SOFT ECONOMIC DATACountering the positive indicators for iron ore demand is a raft of underwhelming economic data that shows China's rebound after ending its strict zero-COVID policy in December has been uneven. The weak data may actually boost iron ore sentiment, as investors will expect further stimulus measures from Beijing.

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Persons: SteelHome, Gerry Doyle Organizations: Dalian, Exchange, China Iron and Steel Association, National Bureau of Statistics, Retail, Reuters, Thomson Locations: LAUNCESTON, Australia, China, Beijing, Singapore, Dalian, April's