You just need to Google these:
1. China central bank to offer cheap loans to support developers' bonds
2. China central bank cut reserve requirement ratio for banks by 25 basis points
That's why Dalian Futures are flying.
But IO demand remains subdued going into Chinese Winter months, plus increased Covid cases in China are not helping.
In saying that, I think IO price (Platts 62) should hit US$100 next week.
Cheers
DYOR
Iron ore price, page-48302
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Last
$16.54 |
Change
0.240(1.47%) |
Mkt cap ! $50.95B | |||
| Open | High | Low | Value | Volume |
| $16.50 | $16.58 | $16.31 | $85.95M | 5.221M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 2153 | $16.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.55 | 4968 | 19 |
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| Last trade - 14.18pm 12/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |