- Write by:
-
Wednesday, August 24, 2022 - 22:49:40
-
736 Visit
-
Print
Mining News Pro - The iron ore price rose on Tuesday after China cut benchmark lending rates and lowered the mortgage reference by a bigger margin in a move to support its property market.
According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $102.18 a tonne Tuesday morning, up 1.8%.
China’s property market crisis is testing whether central bank Governor Yi Gang can stick to his stimulus-lite strategy.
Over the past couple of weeks, Yi has cut key lending rates, announced special loans to struggling property developers via policy banks, and urged state-owned lenders to extend more credit. Meantime, speculation of a cut to reserve requirement ratios grows.
China’s real-estate slump, however, shows little sign of improvement.
Li Daokui, a former adviser to the People’s Bank of China and currently a professor at Tsinghua University in Beijing, says more stimulus will be needed if covid and the restrictions to contain its spread continue to weigh on the economy.
“Right now, monetary policy should do everything possible to avoid the financing chain in the housing market from breaking,” he said.
Short Link:
https://www.miningnews.ir/En/News/622049
Jiang Weiping, the founder of major Chinese lithium producer Tianqi Lithium Corp., resigned as chairman after the ...
Copper slipped after initially extending gains above $10,200 a ton as traders turned their attention to demand ...
BHP Group Ltd.’s proposal for Anglo American Plc to spin off platinum and iron ore units before a takeover would likely ...
Gold wavered as traders looked ahead to a week with a Federal Reserve rate decision meeting and key US jobs data.
Iron ore will average more than $100 a ton this year as the worldwide market remains tight, despite China’s property ...
Iron ore futures prices fell on Monday after weak industrial data in top consumer China and the completion of of ...
Brazil’s Corumba region could more than double iron ore shipments through neighboring Uruguay this year if there is ...
When former boss Mark Cutifani left Anglo American Plc in mid-April 2022, things had rarely looked better for the ...
Brazilian miner Vale SA sees no impact from BHP Group’s bid for Anglo American on the latter’s Minas-Rio project, its ...
No comments have been posted yet ...