Iron ore is rising after the demand expectations have been strengthened thanks to China's import

The price of iron ore again exceeded a $ 100 barrier per tonne, after the data showed a record level of China’s annual metal imports used in steel manufacturing, and showed a significant increase in the country’s trade balance surplus. The future contracts for the fourth consecutive day in Singapore have risen, as it has risen by more than 4% since the closure on Thursday. Prices have flourished after a difficult start as clients have taken care of the demand in China and are awaiting more economic stimulus measures, which Beijing looked last week. The increase in Chinese steel exports received investor moral with a group of customs data released on Monday, and showed that the amount of imports of the largest consuming iron -Ru -country in the world last year amounted to 1.24 billion tonnes. Meanwhile, the increase in China imports has led to the accumulation of shares, the volume of which rose to 14.66 million tonnes on January 10, compared to 12 million tonnes in the same period last year. Meanwhile, the surplus of commercial balance in China increased to an unprecedented level at $ 992 billion during 2024, and the annual export of steel reached 110.7 million tonnes, to record the highest level since 2015. But the worsening of the global trading tensions, including the expected customs rates during the period of the year. Analysts analysts at Anz Group Holdings, including Sony Kumari, wrote in a memo that “the procedures for stimulating the economy in China have recently supported the demand for steel. Executing some basic initial merchandise remains strong due to the acceleration of shipping operations before the imposition of customs tariffs threatened.” The real estate crisis in China is pushing the question despite the occurrence of signs of some durability in China’s demand for iron. The raw material lost more than a quarter of its value during 2024, and the continuous decline in the real estate sector in the country is still urgent. The additional supplies of the most important mining companies in Australia and Brazil threaten the decline of expectations. Future Iron ore contracts rose 1.6% to $ 100.35 per tonne at about 11:50 am, and in China the prices of fans in Dalian, while future steel contracts in Shanghai rose.