The price of iron ore has risen after scoring its biggest weekly profits since January, while traders are awaiting the issuing of data from China, which can show that the economy has achieved more growth than the rate the government targeted during the last quarter (second). The future contracts used in the steel industry rose to $ 99.90 a tonne at the beginning of Monday’s trading after rising 3.6% last week. It is estimated that the Chinese economy may have grown a little more than the annual goal of 5%, according to the expectation that the government will be issued on Tuesday. While this is a positive indication of the request, it may also mean that policymakers will be less likely to provide more stimulus during the next meeting of senior leaders. The support of real estate in China awaits the future Iron -RU contracts last week, amid speculation that Beijing can take extra steps to support the set real estate sector, in collaboration with its movements to address the surplus production capacity in the industrial sector. However, after the beginning of the year, crude oil is still without the levels of levels of losses. Official data published on Monday showed that China issued a record amount of steel during the second quarter, despite the increase in commercial barriers. The final steel export used to manufacture products such as cars and home appliances reached 30.7 million tonnes during the three months ending in June, an 11% increase compared to the same period last year. China’s Iron RU imports rose about 22% monthly. Different movements in the iron market increased the iron ore by 0.4% to $ 99.65 per tonne on the Singapore Stock Exchange at about 02:06 local time. The future contracts denominated in the Yuan also rose on the Dalian Stock Exchange, while steel contracts fell on the Shanghai Stock Exchange. In a separate context, a delegation of senior Australian iron and steel officials, including ‘BHP’, ‘Rio Tinto’, ‘Fortescue’ and ‘BlueScope Steel’, will be with Prime Minister Anthony Albanizi this week to restore balance to trading relationships and promoting bilateral links. In the basic mineral markets, buyer increased by 0.2% on the London metal stock exchange to $ 9675.50, after falling 2.1% last week after US President Donald Trump announced that it intended to impose custom duties on metal imports, while aluminum fell by 0.9%.
The price of iron is still rising and approaching $ 100 per ton
