Iron Ore Recoups Some Losses as Steel Mills Restock Over Winter [Yahoo! Finance]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Yahoo! Finance
Ho Chi Minh City Opens First Metro Line After Years of Delay Singapore futures of the steel-making ingredient rose as much as 1.2% on Thursday, after slumping earlier in the month as producers pare back operations during the winter off-season. Output at major mills has shrunk to its lowest in about three months, according to the China Iron and Steel Association. Iron ore has fallen almost 30% this year, largely due to pessimism over demand from China and its weak construction sector. Sentiment remains fragile, although the government has promised to do more to boost the economy. Prices were 0.9% higher at $101.35 at 10:48 a.m. in Singapore. On the Shanghai Futures Exchange, zinc rose 0.4% to head for a fourth daily gain, while copper also gained. The London Metal Exchange is closed for the second of two public holidays. Spot gold rose 0.4%, paring this month's decline. --With assistance from Martin Ritchie. Most Read from Bloomberg Businessweek How Elon Musk Took Over
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