AIRLINK 177.65 Increased By ▲ 1.33 (0.75%)
BOP 13.29 Decreased By ▼ -0.16 (-1.19%)
CNERGY 7.50 Increased By ▲ 0.01 (0.13%)
FCCL 45.35 Increased By ▲ 0.06 (0.13%)
FFL 15.98 Increased By ▲ 0.76 (4.99%)
FLYNG 27.66 Increased By ▲ 0.66 (2.44%)
HUBC 133.65 Increased By ▲ 0.55 (0.41%)
HUMNL 13.09 Increased By ▲ 0.08 (0.61%)
KEL 4.44 Decreased By ▼ -0.01 (-0.22%)
KOSM 5.93 Decreased By ▼ -0.03 (-0.5%)
MLCF 58.40 Increased By ▲ 0.37 (0.64%)
OGDC 218.85 Increased By ▲ 0.57 (0.26%)
PACE 5.88 Increased By ▲ 0.01 (0.17%)
PAEL 42.60 Increased By ▲ 0.98 (2.35%)
PIAHCLA 16.51 Increased By ▲ 0.15 (0.92%)
PIBTL 10.14 Increased By ▲ 0.72 (7.64%)
POWER 12.02 Increased By ▲ 0.14 (1.18%)
PPL 183.02 Decreased By ▼ -1.60 (-0.87%)
PRL 35.34 Increased By ▲ 0.16 (0.45%)
PTC 24.25 Increased By ▲ 0.55 (2.32%)
SEARL 95.15 Increased By ▲ 0.62 (0.66%)
SILK 1.15 Decreased By ▼ -0.02 (-1.71%)
SSGC 37.25 Increased By ▲ 0.05 (0.13%)
SYM 16.10 Decreased By ▼ -0.08 (-0.49%)
TELE 7.90 Increased By ▲ 0.03 (0.38%)
TPLP 10.82 Increased By ▲ 0.08 (0.74%)
TRG 60.75 Decreased By ▼ -0.59 (-0.96%)
WAVESAPP 10.75 Decreased By ▼ -0.02 (-0.19%)
WTL 1.35 Increased By ▲ 0.01 (0.75%)
YOUW 3.77 Increased By ▲ 0.01 (0.27%)
BR100 12,224 Decreased By -20.3 (-0.17%)
BR30 37,508 Increased By 133.1 (0.36%)
KSE100 115,398 Increased By 303.9 (0.26%)
KSE30 35,606 Decreased By -5.1 (-0.01%)

SINGAPORE: Iron ore futures prices recovered on Thursday from the previous session’s losses, as investors awaited clues on policy easing from a key economic meeting in top consumer China.

The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) ended morning trade 0.68% higher at 817.0 yuan ($112.49) a metric ton.

The benchmark January iron ore on the Singapore Exchange was 1.02% higher at $105.65 a ton, as of 0330 GMT. “Iron ore prices remained steady as traders weighed the impact of additional stimulus from China and easing monetary policy against other structural headwinds,” said ANZ analysts in a note.

China’s top policymakers are considering allowing the yuan to weaken in 2025 as they brace for a second Donald Trump presidency, reflecting Beijing’s recognition that it needs bigger economic stimulus to combat Trump’s threats of bigger tariffs, Reuters reported on Wednesday. The news weighed on sentiment in industrial metals markets as a weaker yuan could lead to capital outflows and a declining equity market, said ANZ. Earlier in the week, China’s Politburo had vowed to switch to an “appropriately loose” monetary policy to spur economic growth.

The top policymakers’ statement sent a “positive policy signal” that boosted iron ore prices, said Chinese financial information site Hexun Futures. Analysts say markets are looking forward to Beijing’s annual Central Economic Work Conference, which is expected to be held this week. But detailed measures remain unclear.

While iron ore is currently boosted by official policies and winter storage and replenishment by steel mills, high portside stocks and long-term demand concerns limit the upside, Hexun said.

Other steelmaking ingredients on the DCE firmed, with coking coal and coke up 2.61% and 2.24%, respectively. Steel benchmarks on the Shanghai Futures Exchange regained their footing.

Comments

Comments are closed.