Iron ore climbs over $US130 a tonne
Sarah Turner
Iron ore price benchmarks firmed overnight, with 62% Fe closing above US$130/mt +2.1% to US$130.80/t, and 58% Fe +2.1% to US$117.35/mt.
Louie Douvis
"Prices rallied on steel mill restocking ahead of holidays in October, which is expected to support prices through September, and on expectations for accelerating construction and infrastructure activity through September and October," said Commonwealth Bank's commodity strategists.
ANZ's strategy team said real estate activity is even stronger than it was before the COVID-19 crisis began and that's partly supporting iron ore prices.
"Housing transactions have picked up strongly on the back of pent-up demand, particularly in China," the ANZ strategists said.
"This sector consumes about 40 per cent of total steel consumption and it also has important implications for downstream demand. We see iron ore benefiting from this over the next six to nine months."
Iron ore climbs over $US130 a tonneSarah TurnerIron ore price...
-
- There are more pages in this discussion • 29,825 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add FMG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$19.08 |
Change
0.210(1.11%) |
Mkt cap ! $58.90B | |||
| Open | High | Low | Value | Volume |
| $19.38 | $19.38 | $19.01 | $75.34M | 3.919M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 9070 | $19.07 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.08 | 35 | 2 |
View Market Depth
| Last trade - 11.24am 01/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |