Iron Prices Climb As China Reboots Its Economy ...Middle East

OILPRICE - Economy
Iron Prices Climb As China Reboots Its Economy
source : OILPRICE ( Middle East ) () 9
It’s still touch-and-go for the steel sector in China despite the sprouting of the first shoots of a possible manufacturing recovery. However, last Monday, benchmark iron ore prices in the country gained a surprising 7%. This is the biggest daily rise in two-and-a-half months. Is it a sign that we should be more optimistic or just a dead cat bounce? China’s Slow Road to Recovery Chinese manufacturing activity has thus far been down in 2022 due to a fresh COVID-19 outbreak. However, since mid-May, the market has shown some signs of recovery,…

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