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China's commodities futures gain all across the board


04-21-2016 16:56 BJT

China's commodities futures market continued to gain and witnessed another round of price surges across the board on Thursday. 

Steel futures stretched big gains to a fourth day on Thursday by surging 6 percent to hit their upside limit. That came as traders restocked on building materials in a bet that demand will stay strong in the months ahead. Steel's rally lifted iron ore futures up 5 percent.

Sector-wise, agricultural commodities futures were the biggest winners, with the limit-up triggered in futures of cotton, soybeans and corn. Analysts say the commodities surge is mainly due to China's strong economic data but they warn of speculators fleeing the market on profit taking.

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