Macro Environment, page-2

Iron ore price rises on optimism over China central bank support

Read the article here

Some out takes:

"The iron ore price rose on Thursday after China’s central bank said it would take monetary policy steps to help businesses hit by the covid-19 outbreak and support a recovery in consumption.Returning from a five-day Labour Day break, traders were also upbeat about replenishment demand remaining strong for the steelmaking ingredient in the world’ top steel producer. Benchmark 62% Fe fines imported into Northern China rose 0.79%, to $150.75 per tonne...."

"...The most-traded September iron ore contract on China’s Dalian Commodity Exchange ended daytime trading 1.9% higher at 871.50 yuan ($131.74) a tonne. It touched 881.50 yuan earlier in the session, the highest since April 25. The People’s Bank of China on Wednesday vowed to “waste no time planning incremental policy tools to support steady economic growth, stabilise employment and prices … to provide a fair monetary and financial environment...."