Dalian iron ore futures extended gains on Wednesday, buoyed by persistent support from prospects of more monetary stimulus and supportive measures to prop up a stalling post-pandemic recovery in the world’s second-largest economy.
New bank lending rose to 1.36 trillion yuan ($189.92 billion) in May, data from the People’s Bank of China (PBOC) showed on Tuesday, up from April but missed analysts’ estimates.
Signs of slowing momentum have raised expectations that more stimulus may be needed to sustain the recovery, analysts said.
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.