Iron ore climbs to over 2 week high on prospects of more China stimulus

Quick Summary:

The benchmark December iron ore on the Singapore Exchange added 1.09% at $105.05 a ton, as of 0711 GMT, also the highest since Oct.

China's 2024 iron ore imports seen to be around 1.17-1.

China's services activity expanding the fastest in three months in October, following the unexpected manufacturing activity expansion, has further boosted overall sentiment.

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Article Details

Category: BusinessFinance

Markets: IndiaChinaSingapore

Topics: Iron ore import Benchmark Singapore Iron ore miners

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 14:00:59 (10 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 432 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23427446

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