- Write by:
-
Friday, September 9, 2022 - 21:18:50
-
527 Visit
-
Print
Mining News Pro - The iron ore price rose on Thursday after the Chinese city of Zhengzhou said it would start building stalled housing projects.
According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $100.62 a tonne Thursday morning, up 4.4%.
The most-traded January iron ore on China’s Dalian Commodity Exchange ended daytime trading 3.1% higher at 706 yuan ($101.54) a tonne, after hitting its strongest level since August 30 at 708.50 yuan.
Steel futures in Shanghai also advanced, despite concerns about intensifying covid-19 restrictions in the world’s biggest steel producer and iron ore consumer.
Zhengzhou city vowed to start building all stalled housing projects within 30 days, by making good use of special loans, asking developers to return misappropriated funds, and encouraging some real estate firms to file for bankruptcy, Reuters reported, citing three sources.
Homebuyers in at least 80 cities in China have threatened to halt making mortgage payments as liquidity problems or covid-19 restrictions hampered projects, adding to worries about an ailing property market.
“The market is cautiously looking forward to September and October demand,” Zhongzhou Futures analysts said in a note, referring to China’s peak construction season.
China’s imports of iron ore in August rose 5.5% from the prior month, customs data showed on Wednesday, even as operating rates at blast furnaces only slightly improved.
The country brought in 96.21 million tonnes of the steelmaking raw material last month, up from July’s 91.24 million tonnes, the General Administration of Customs said.
Short Link:
https://www.miningnews.ir/En/News/622141
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
A key measure of Chinese copper demand just sank to zero, another indication that global prices are not balanced with ...
Australia’s Fortescue on Wednesday logged a larger-than-expected decline in third-quarter iron ore shipments, following ...
Iron ore futures prices ticked lower on Monday, weighed down by diminishing hopes of more stimulus in top consumer ...
China’s state planner on Friday finalized a rule to set up a domestic coal production reserve system by 2027, aimed at ...
Chile’s SQM called another investors meeting at the request of its second-largest shareholder, Tianqi Lithium Corp., ...
Iron ore futures prices drifted higher on Thursday as the latest soft data from top consumer China triggered renewed ...
Vitol Group confirmed that it’s starting to rebuild a trading book for metals after a long stint out of the market, with ...
Copper traded near a 15-month high as supply concerns and brighter demand prospects triggered a slew of bullish calls on ...
No comments have been posted yet ...