Iron ore futures in China dropped for the second straight session on Monday, dented by intensifying tensions between China and the United States, though analysts expect demand for the steelmaking ingredient to remain resilient.
FILE PHOTO: Piles of imported iron ore are seen at a port in Zhoushan, Zhejiang province, China May 9, 2019. REUTERS/Stringer
“The drop in prices should be driven by macro sentiment such as China-U.S. relations, which could hurt some steel-related exports,” said Cai Biyu, analyst with GF Futures, adding that fundamentals for iron ore are still stable. Demand for five main steel products in China recovered last week to levels seen in mid-June, before the rainy season that slowed construction activities, according to Reuters calculations based on output and inventory data compiled by Mysteel consultancy.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Apple Faces $1.4 Billion Lawsuit in China in Siri Patent FightA Shanghai company has filed a patent-infringement lawsuit against Apple that, if successful, could prevent the American tech giant from selling many of its products in its most important market outside the U.S.
Weiterlesen »
Hong Kong Draws Fewer Expats as China Curbs City’s FreedomsThe city’s expatriate community is shrinking, as new restrictions by China on speech and political activities and a tumultuous year of protests have diminished the allure of living and working in the Asian financial hub.
Weiterlesen »
'They're not equivalent': Pelosi says Russian election interference more serious than that of China, IranCongressional Democratic leaders on Sunday called for an intelligence report on foreign interference in the 2020 election to be made public so, they said, voters can be more informed about such efforts than they were in 2016.
Weiterlesen »
U.S. Intelligence: China Opposes Trump Reelection; Russia Works Against BidenA top U.S. intelligence official warns that China is trying to undermine President Trump's reelection bid while Russia is trying to denigrate Democrat Joe Biden.
Weiterlesen »
Arm's conflicts in China will complicate Nvidia's reported efforts to buy it from SoftBank - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Weiterlesen »
China reports 23 new COVID-19 cases in mainland, vs 31 day earlierChina reported 23 new coronavirus cases in the mainland for Aug 8, down from 31 a day earlier, the country’s health authority said on Sunday.
Weiterlesen »