- Write by:
-
Wednesday, August 24, 2022 - 22:49:40
-
732 Visit
-
Print
Mining News Pro - The iron ore price rose on Tuesday after China cut benchmark lending rates and lowered the mortgage reference by a bigger margin in a move to support its property market.
According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $102.18 a tonne Tuesday morning, up 1.8%.
China’s property market crisis is testing whether central bank Governor Yi Gang can stick to his stimulus-lite strategy.
Over the past couple of weeks, Yi has cut key lending rates, announced special loans to struggling property developers via policy banks, and urged state-owned lenders to extend more credit. Meantime, speculation of a cut to reserve requirement ratios grows.
China’s real-estate slump, however, shows little sign of improvement.
Li Daokui, a former adviser to the People’s Bank of China and currently a professor at Tsinghua University in Beijing, says more stimulus will be needed if covid and the restrictions to contain its spread continue to weigh on the economy.
“Right now, monetary policy should do everything possible to avoid the financing chain in the housing market from breaking,” he said.
Short Link:
https://www.miningnews.ir/En/News/622049
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
A key measure of Chinese copper demand just sank to zero, another indication that global prices are not balanced with ...
Australia’s Fortescue on Wednesday logged a larger-than-expected decline in third-quarter iron ore shipments, following ...
Iron ore futures prices ticked lower on Monday, weighed down by diminishing hopes of more stimulus in top consumer ...
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
China’s state planner on Friday finalized a rule to set up a domestic coal production reserve system by 2027, aimed at ...
Chile’s SQM called another investors meeting at the request of its second-largest shareholder, Tianqi Lithium Corp., ...
Iron ore futures prices drifted higher on Thursday as the latest soft data from top consumer China triggered renewed ...
Vitol Group confirmed that it’s starting to rebuild a trading book for metals after a long stint out of the market, with ...
No comments have been posted yet ...