AIRLINK 198.69 Increased By ▲ 0.72 (0.36%)
BOP 10.01 Decreased By ▼ -0.03 (-0.3%)
CNERGY 7.28 Decreased By ▼ -0.01 (-0.14%)
FCCL 36.62 Increased By ▲ 0.62 (1.72%)
FFL 16.77 Decreased By ▼ -0.14 (-0.83%)
FLYNG 25.70 Increased By ▲ 0.66 (2.64%)
HUBC 135.70 Increased By ▲ 1.67 (1.25%)
HUMNL 14.01 Decreased By ▼ -0.13 (-0.92%)
KEL 4.78 No Change ▼ 0.00 (0%)
KOSM 6.91 Decreased By ▼ -0.03 (-0.43%)
MLCF 45.40 Increased By ▲ 0.42 (0.93%)
OGDC 218.20 Decreased By ▼ -0.03 (-0.01%)
PACE 6.96 Increased By ▲ 0.02 (0.29%)
PAEL 41.30 Decreased By ▼ -0.12 (-0.29%)
PIAHCLA 16.79 Decreased By ▼ -0.07 (-0.42%)
PIBTL 8.46 No Change ▼ 0.00 (0%)
POWER 9.40 Increased By ▲ 0.01 (0.11%)
PPL 184.44 Decreased By ▼ -1.49 (-0.8%)
PRL 41.50 Increased By ▲ 0.23 (0.56%)
PTC 25.05 Increased By ▲ 0.28 (1.13%)
SEARL 104.70 Increased By ▲ 0.05 (0.05%)
SILK 1.01 No Change ▼ 0.00 (0%)
SSGC 40.70 Decreased By ▼ -0.21 (-0.51%)
SYM 17.89 Decreased By ▼ -0.16 (-0.89%)
TELE 8.91 No Change ▼ 0.00 (0%)
TPLP 12.69 Decreased By ▼ -0.15 (-1.17%)
TRG 66.49 Decreased By ▼ -0.11 (-0.17%)
WAVESAPP 11.20 Decreased By ▼ -0.10 (-0.88%)
WTL 1.77 Decreased By ▼ -0.01 (-0.56%)
YOUW 3.90 Decreased By ▼ -0.10 (-2.5%)
BR100 12,119 Increased By 9.6 (0.08%)
BR30 36,626 Increased By 28.5 (0.08%)
KSE100 115,117 Increased By 75 (0.07%)
KSE30 36,218 Increased By 18.3 (0.05%)

MANILA: Iron ore futures jumped on Thursday, with Dalian prices climbing more than 3% and the Singapore benchmark up for an eighth straight session, as more signs of improving downstream steel demand in China supported prices. The most-traded iron ore for September delivery on the Dalian Commodity Exchange rose as much as 3.3% to 913.50 yuan ($131.75) a tonne in early trade.

Iron ore's September contract on the Singapore Exchange was up 2.1% at $114.60 a tonne. Rising car and excavator sales in China further buoyed sentiment, analysts at Beijing-based Sinosteel Futures Co Ltd said in a note.

"Good car sales data shows that domestic demand is improving, and excavator sales also mean that the construction machinery industry and infrastructure are improving," they said. Sales volume of China's automobile industry in July was estimated at 2.08 million, up 14.9% from a year earlier, while excavator sales increased by more than 40%, they said.

Benchmark 62% iron ore's spot price in China stood at a 12-month high of $116.50 a tonne on Wednesday, data from SteelHome consultancy showed. Construction steel rebar on the Shanghai Futures Exchange was up 1% by 0142 GMT. Hot-rolled coil, steel used in cars and home appliances, rose 0.4%, while stainless steel advanced 1.7%.

Comments

Comments are closed.