Iron ore futures ended higher on Thursday, helped by a softer dollar, although gains were limited by falling China lump ore premiums that signalled weak demand for the steelmaking material.

The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) inched 0.44% higher to 799.5 yuan ($112.92) a metric ton.

The benchmark December iron ore on the Singapore Exchange was 0.29% higher at $106.85 a ton, as of 07:03 GMT.

China’s seaborne iron ore lump premiums against 62% Fe fines had plunged 42.2% from two months ago, as of November 25, and hit their lowest level since late May 2024, said Chinese consultancy Mysteel.