The iron ore price and the S&P/ASX 200 Index (ASX: XJO) are flying today after fears of an impending collapse of the Chinese property developer, China Evergrande Group subsided in the market.
Overnight, the material required for steel manufacturing rocketed 16.8% to US$108.70 per tonne. The ASX 200 also had a rip-roaring day and was trading up 1.18% just before the market close this afternoon.
Let’s take a closer look at today’s news.
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging
Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
