Iron Ore Futures Hit Ten-Month High On Chinese Stimulus Efforts ...Middle East

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Iron Ore Futures Hit Ten-Month High On Chinese Stimulus Efforts
source : OILPRICE ( Middle East ) () 45
Iron ore futures hit a ten-month high on Monday, riding a wave of optimism from Chinese policymakers who rolled out new a fiscal stimulus package coupled with interest rate cuts at major state-owned banks. This move by Beijing is set to cushion the struggling property market. Iron ore futures in Singapore soared to the highest intra-day level since late February, around $140 per ton. Prices have soared 40% since early August.  On Sunday, state-run media Global Times reported that Chinese policymakers planned to roll out 1 trillion…

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