Industry News

Iron ore hits highest in a month on hopes China’s demand improving

Views : 67
Update time : 2024-07-04 17:03:40

Iron ore touched its highest in nearly a month as traders bet on a modest improvement for China’s steel market.

Futures in Singapore rose the previous four trading days and are up more than 6 per cent this week due a tick-up in demand and hopes for a stimulus boost at a major Chinese political gathering - known as the Third Plenum.

The steelmaking ingredient is now solidly above $US110 ($A163) a tonne after trading below that threshold for most of June.

Iron ore has rebounded from below $US100 ($A148) a tonne in May, after the government unveiled a rescue package for the key property sector.

Related News
Read More >>
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Apr .25.2025
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Nickel Price Update: Q1 2025 in Review Nickel Price Update: Q1 2025 in Review
Apr .25.2025
Nickel Price Update: Q1 2025 in Review
Higher steel prices benefiting Region steel mills Higher steel prices benefiting Region steel mills
Apr .25.2025
Higher steel prices benefiting Region steel mills
Vale's net profit drops 17% on lower iron ore prices Vale's net profit drops 17% on lower iron ore prices
Apr .25.2025
Vale's net profit drops 17% on lower iron ore prices