Iron ore prices recovered on Wednesday (Nov 8) as sentiment was boosted following a speech by China’s central bank governor on support for the property market, the country’s biggest steel consuming sector.
The most-traded January iron ore on China’s Dalian Commodity Exchange (DCE) ended daytime trading 1.03 per cent higher at 935 yuan (S$174.47) a metric ton.
The benchmark December iron ore on the Singapore Exchange was 1.09 per cent higher at US$124.4 a ton, as of 0736 GMT, the highest since Apr 3.
Alien Metals Ltd (LON:UFO) is a global minerals exploration and development company that will shortly make the transition to iron ore producer. The company was formed from Arian Silver in late 2018, retaining some of the companies more valuable Mexican projects before embarking on an acquisition led strategy, headed up by an excellent geological team and targeted entirely on Western Australia.