China’s Credit Growth Boosts Confidence In Iron Ore Markets

Via Metal Miner According to this report, the most-traded January iron ore on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trading 2.41% higher at 851.5 yuan (US$116.80) a metric ton. The next day, the iron ore price index surged by 4%, surpassing US $117 per ton. Trader optimism largely fueled the price jump, as many felt encouraged by the surprising economic data and the anticipation of additional stimulus measures for the country’s property sector (the impact of this on 2024 metal prices is covered in the 2024 Annual…