Industry News

Chinese iron ore futures rise

Views : 252
Update time : 2020-07-23 16:20:26
MANILA: Iron ore futures rose on Tuesday, mirroring upbeat sentiment in Chinese equities and base metals markets, shrugging off Brazilian miner Vale SA's higher output in the second quarter.

Iron ore on the Dalian Commodity Exchange closed 2.8% higher at 841 yuan ($120.32) a tonne, after falling for three straight days.

On the Singapore Exchange it advanced 2.4% to $108.60 a tonne in afternoon trade, rebounding from a four-day decline.

China stocks rose 3% on Monday and were headed for further gains after regulators moved to bolster the market by lifting equity investment cap for insurers and encouraging mergers and acquisitions among brokerages and mutual fund houses.

The steelmaking ingredient continues to defy fundamentals, with the Dalian benchmark contract on track for its fifth straight month of gains, and spot prices hovering near one-year highs, prompting analysts to warn of a sharp correction.

Related News
Read More >>
China’s alumina and primary aluminium prices continue to decline over the last weekend of 2024 China’s alumina and primary aluminium prices continue to decline over the last weekend of 2024
Dec .31.2024
China’s alumina and primary aluminium prices continue to decline over the last weekend of 2024
Rethinking solar costs: Aluminium frames redefine PV industry margins Rethinking solar costs: Aluminium frames redefine PV industry margins
Dec .31.2024
Rethinking solar costs: Aluminium frames redefine PV industry margins
2024 concludes in Shanghai Metals Market eventfully! Find out which aluminium pricing went which way 2024 concludes in Shanghai Metals Market eventfully! Find out which aluminium pricing went which way
Dec .31.2024
2024 concludes in Shanghai Metals Market eventfully! Find out which aluminium pricing went which way
World alumina production grows 1.9% Y-o-Y during Jan-Nov 2024, partially affected by output curtail at Alcoa’s Kwinana refinery World alumina production grows 1.9% Y-o-Y during Jan-Nov 2024, partially affected by output curtail at Alcoa’s Kwinana refinery
Dec .31.2024
World alumina production grows 1.9% Y-o-Y during Jan-Nov 2024, partially affected by output curtail at Alcoa’s Kwinana refinery