Business
Iron ore escapes bear market – The Australian Financial Review
China has reiterated its commitment to reining in environmental emissions from its steel output, snapping a bear run in the price of iron ore futures.
This prospective new policy looks likely to have a bigger impact on steel output than other policies Beijing has introduced in recent times, wrote Daniel Hynes, a senior commodity strategist at ANZ.
The iron ore price has jumped around since resetting its high as the market continues to decipher the implications of Chinas promise to decarbonise at the expense of its steel output.
Commonwealth Bank highlighted that steel accounted for roughly 15 per cent of Chinas carbon emissions, which is driving…
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