After the central bank of China promised a financial support to stimulate domestic demand, illustrated by lower-than-expected consumer data, futures contracts on Iron ore continued to rise on Wednesday.

The most negotiated iron ore contract for delivery in May to the Dalian Commodity Exchange (DCE) in China increased by 0.26% to 765 yuan (110.63 dollars) per ton at 2:34am GMT. The reference contract for delivery in March on the Singapore Stock Exchange traded up 0.17% to $100.35 per ton.

The Chinese central bank announced on Tuesday evening that it was going to strengthen its financial support to stimulate demand domestic, industrial overcapacity and weak consumption weighing on business confidence and clouding the outlook for growth.

Other listed steel raw materials at the DCE have declined, with coking coal and coke decreasing by respectively 0.22% and 0.51%. The reference prices for steel on Shanghai Futures Exchange have progressed.

The rebars are are reinforced by 0.26%, the hot-rolled coils have firmed by 0.37%, wire rod hardened by 1.42%, and stainless steel gained 0.54 %.