Exuberant iron ore, subdued copper show different sides of China stimulus [Globe and Mail, The (Toronto, Canada)]
SINGAPORE EXCH UNSP/ADR (SPXCY)
NASDAQ:AMEX Investor Relations:
investorrelations.sgx.com
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Source: Globe and Mail, The
China's significant stimulus measures have kicked the prices of key metals higher, and the gains have largely been sustained even amid a debate as to whether Beijing has actually done enough to boost the world's second-biggest economy. The raft of announcements last week, which included lower interest rates and easier home purchase terms, saw metals prices respond, especially those with a high degree of China exposure, such as iron ore. The price of the key steel raw material leapt on both China's domestic exchange and in Singapore, the main contract for global investors. China buys about 70% of global seaborne volumes, with the major exporters being Australia and Brazil. The Dalian Commodity Exchange contract jumped 10.7% to finish at 821.5 yuan ($117.14) a metric ton on Monday, having earlier in the session hit 835 yuan, its highest since July 16. The contract hasn't traded since then given China's extended Golden Week public holidays, but Singapore Exchange futures ended a
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