Iron ore prices surged to a three-month high from September 30 to October 7, 2024, driven by new economic stimulus measures from China aimed at stabilizing its economy, particularly the real estate sector. January futures on the Dalian Commodity Exchange stabilized at 821.5 yuan ($117.14) per ton, while Singapore Exchange quotes for November futures slightly decreased by 3.4% to $108.2 per ton. Despite the positive market reaction, analysts caution that ongoing challenges, including high developer debt, may affect medium-term demand stability. Forecasts suggest iron ore prices could range between $90 and $100 per ton by the end of 2024.