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Iron ore price down on new China lockdown worries | |
admin | |
2022-06-10 | |
发布年 | 2022 |
语种 | 英语 |
国家 | 国际 |
领域 | 地球科学 |
正文(英文) | ![]() Stock Image.
The iron ore price fell on Friday on renewed concerns over demand in China, where fresh covid-19 alerts threaten to derail the economy’s reopening and steel margins have come under pressure. Benchmark 62% Fe fines imported into Northern China fell 1.94% Friday morning, to $141.19 per tonne. ![]() The most-traded September iron ore contract on China’s Dalian Commodity Exchange ended daytime trading 1.7% lower at 914.50 yuan ($136.83) a tonne. Shanghai faces an unexpected round of mass covid testing this weekend, following the discovery of a few cases in the community, just 10 days after a city-wide lockdown that hurt businesses was lifted. “China remains a big source of uncertainty for global growth,” JP Morgan analysts said in a note. While the economy’s reopening has led to a surge in China’s exports in May, it “also raises the risk that cases re-emerge”. Meanwhile, spot iron ore in China traded higher this week, hitting a seven-week peak on Thursday at $148 a tonne, SteelHome consultancy data showed, as short-term demand picked up. China’s iron ore imports rose 3% in May from a year earlier, data on Thursday showed, after disruptions to shipments by major suppliers eased. The country ramped up its purchases – despite weak profits at steel mills – also because of the easing of covid-related curbs and Beijing’s stimulus support for the struggling economy. (With files from Reuters)
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来源平台 | Minging.com |
文献类型 | 新闻 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/348720 |
专题 | 地球科学 |
推荐引用方式 GB/T 7714 | admin. Iron ore price down on new China lockdown worries. 2022. |
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