The price of iron ore continued to rise during trading on Tuesday, reaching its highest levels since February, with growing optimism about demand in light of China’s efforts to stimulate its economy. China has identified a list of 50 real estate development companies eligible for financing as the country attempts to reduce the real estate sector crisis, according to Bloomberg, citing sources familiar with the matter. In today's trading, the price of iron ore traded in Singapore rose by 2% at $133.65 per ton, on its way to recording the highest close since June 2022, and contracts traded in Dalian also rose by 1.8%.
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Steel NewsNovember 21, 20231 min read