Dec 28, 2023 02:26 AM
ECONOMY
Iron Ore Surges Past $140 to The Highest Since June 2022
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Futures in Singapore rose above $140 a ton amid thin trading on Tuesday
(Bloomberg) — The price of iron ore rallied to its highest since June 2022, showing Beijing’s efforts to stem the property market’s decline in recent months may be paying dividends.
Futures in Singapore rose above $140 a ton amid thin trading on Tuesday. Optimism is building that China’s economic recovery, and its steel-intensive property sector are finally gaining momentum, after a subdued post-pandemic reopening in the past year that disappointed investors.
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