empty
 
 

31.08.202607:18:51UTC+00Iron Ore Hits 1-Month High

Iron ore futures rose above CNY 720 per ton to a one-month high, as investors bet on a seasonal recovery in demand ahead of the traditional peak construction period in September. Construction activity in top consumer China typically accelerates before winter, improving the demand outlook for steel and related raw materials.

In addition, China’s National Development and Reform Commission has reportedly convened meetings in recent weeks, urging local governments to speed up the rollout and construction of major projects. Higher freight and oil costs have also lent support to iron ore prices, even as rising coking coal prices continue to compress steelmakers’ margins.

Industry data further indicated a slight decline in blast furnace operating rates at Chinese steel mills last week, accompanied by a drop in daily hot metal output.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In August we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


现在无法通话?
提出您的问题,用 在线帮助.
Widget callback