9,347.17 TL BIST 100 BIST 100
31.06 $ USD USD
€33.62 EUR EUR
43.42 TL Interest Interest
83.25 $ Fossil Oil Fossil Oil
22.62 $ Silver Silver
3.88 $ Copper Copper
121.11 $ Iron Ore Iron Ore
394.00 $ Ship Dismantling Ship Dismantling
2,023.50 TL Gold (gr) Gold (gr)

Iron ore hits 5-month high as China relaxes covid rules

Iron ore forward transaction increased on Tuesday and the Singapore reference price hit a five-month high after largest steelmaker China lifted quarantine rules for visitors, raising investor sentiment.

Iron ore hits 5-month high as China relaxes covid rules

China will stop requiring quarantine of arriving passengers from January 8; This is a big step towards loosening the strict covid-19 containment policy that has limited industrial activity and domestic demand and sparked public unrest last month.

May iron ore, the top traded on China's Dalian Commodity Exchange, finished day trading at 836 yuan ($120.11) per tonne, rising 1.8%. It reached 838 yuan in the early hours of the session, the highest level since December 16.

On the Singapore Exchange Limited, the reference January contract for the steelmaking component increased by rising 3.4 percent to $114.30 per ton, hitting its highest level since late July.

"(China's covid) policy adjustments are strengthening prospects for economic recovery and this could push prices higher," its analysts wrote in a note.


No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Iron ore prices in decline: Abundant supply and weak demand continue to pressure

Saturday, February 24, 2024

How was the steel market trend in Europe this week?

Thursday, February 22, 2024

Egypt's Iron and Steel Mine Company aims for profitability surge in fiscal year 2024-2025

Thursday, February 22, 2024

Iron ore prices in China continue to fall due to lack of demand

Thursday, February 22, 2024

Iron ore prices continue to fall in China

Wednesday, February 21, 2024
Follow List
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.

There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now