Iron ore price, page-52956

Russian mining companies export around 3.6 mill tons of IO to China (90%of their total IO exports) annually, so you see they are a part of the big picture. That the IO comes back to them in cars and machinery from China, and that that trade is very rapidly increasing, is also relevant. Manufacturing (including cars and machinery) in China is the "buffer" (to property development) destination for IO, so increases in manufacturing , including car-making (petrol or EV), is very relevant to FMG. Manufacturing in China needs to escalate. The Chinese PMI for June 2024 was 49.5, meaning there is a need for Chinese manufacturers to increase production or risk a shrinking economy. PMI figures definately have an impact on the FMG share price- so Chinese car-making, for example is hardly irrelevant. Who drives a Tesla or a hybrid (me) and why,is probably less relevant to FMG, which may be your point?

Anyway, overnight- DOW up 32.39, DCE September IO futures US$113.53 Last:824 Yuan Chg:-0