9,347.17 TL BIST 100 BIST 100
4.34 CNY CNY CNY
31.06 $ USD USD
€33.62 EUR EUR
0.13 CNY CNY/EUR CNY/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 prices rise in China as real estate sector revives

The price of iron ore, a key raw material in steel production, has risen 10% on the Singapore Exchange this month. The rise was driven by expectations that the Chinese government will take steps to revive the real estate sector, which has suffered in recent years.

Iron ore prices rise in China as real estate sector revives

Despite the recent surge in prices, Chinese regulators warned traders against speculating on iron ore.

Citi analysts raised their forecasts for iron ore prices to $140 per ton. They believe that demand for iron ore will increase as China's economy recovers.

The recovery in iron ore prices also led to a recovery in the shares of real estate developers. Hong Kong shares of Country Garden, one of the Chinese real estate developers, have risen more than 60 percent this month. Even Evergrande, a real estate developer facing a debt crisis, has seen its shares rise more than 10 percent this month.

Analysts are optimistic about the outlook for iron ore and property prices. They expect prices to continue to rise as China's economy recovers. However, they caution that there could be some uncertainty ahead as the Chinese government continues to implement structural reforms.

Comments

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

South Korea increased its crude steel production in January

Saturday, February 24, 2024

Nippon Steel's bid to acquire US Steel has ignited national security debates in the US

Saturday, February 24, 2024

NLMK Europe announced the partnership with Askon Demir Çelik

Saturday, February 24, 2024

The US imposes sanctions on 93 entites, including Türkiye: Here are 16 targeted companies from Türkiye

Saturday, February 24, 2024

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

Saturday, February 24, 2024
Follow List
Expand
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