Industry News

Iron-ore surged, but could retest $100/mt support levels

Views : 121
Update time : 2023-08-14 16:03:23

The most-traded January iron-ore on China's Dalian Commodity Exchange ended daytime trade 2.1% higher at 728 yuan ($100.64) per metric ton.

On the Singapore Exchange, the benchmark September iron-ore jumped 2.2% to $103 a metric ton, as of 07:30 GMT, paring the previous day's losses.

"Scant mildly positive headlines have provided temporary relief from the overarching disappointment of a flailing economy. This only creates mouth-watering opportunities for iron ore bears to sell into and soak up additional speculative gains on short positions," said Atilla Widnell, managing director at Navigate Commodities in Singapore.

Related News
Read More >>
China’s Yongjin achieves over 95% capacity utilization China’s Yongjin achieves over 95% capacity utilization
Nov .19.2025
China’s Yongjin achieves over 95% capacity utilization
Aluminum extends rally to year highs amid tariff easing & supply constraints Aluminum extends rally to year highs amid tariff easing & supply constraints
Nov .19.2025
Aluminum extends rally to year highs amid tariff easing & supply constraints
PPG launches “Sigma EcoCollect”: a recycling initiative in Netherland PPG launches “Sigma EcoCollect”: a recycling initiative in Netherland
Nov .19.2025
PPG launches “Sigma EcoCollect”: a recycling initiative in Netherland
China’s aluminium imports continue to grow as price gap widens China’s aluminium imports continue to grow as price gap widens
Nov .19.2025
China’s aluminium imports continue to grow as price gap widens