The contract has now risen ~20% from lows seen on 26 May, and sits above the $109 handle last printing at $109.40/tonne.
Speculation of Chinese economic stimulus continues to linger buoying Iron Ore and other base metals, with sentiment given a further boost from news that US Sec of State Blinken is planning to visit China in the coming weeks.

Fig 1: SGX Iron Ore

Source: MNI/Bloomberg

Metals bullet Data EM Bullet Homepage Commodities Bullet Markets Emerging Markets News Foreign Exchange News

Brendan McKeating

Metals bullet Data EM Bullet Homepage Commodities Bullet Markets Emerging Markets News Foreign Exchange News

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