Latest news with #SteelMaking
Bloomberg
16-07-2025
- Business
- Bloomberg
Iron Ore Tops $100 for First Time Since May on China Sentiment
Iron ore rose above $100 a ton on improving sentiment over Chinese economic growth, and as Rio Tinto Group brought forward its timeline for the first shipment from a massive mine in Guinea. Futures were up more than 1%, heading into triple figures for the first time since May. The steel-making ingredient has recovered over the past few weeks as Chinese officials pledged to tackle excessive competition and outdated capacity, as well as deliver additional property-led policy measures.
Bloomberg
14-07-2025
- Business
- Bloomberg
Iron Ore Holds Big Weekly Gain Ahead of Key China Economic Data
Iron ore held its biggest weekly gain since January, with traders looking ahead to the release of data in China that may show the economy of the world's biggest metals consuming nation expanded more than 5% in the second quarter. Futures of the steel-making staple rose as high as $99.90 a ton early Monday, after surging 3.6% last week. China's economy potentially expanded just above the government's full-year growth target, government figures are expected to show Tuesday. While that would be a positive demand signal, it also could mean policymakers would be less likely to offer up more stimulus in an upcoming meeting of senior leaders.
