Business
Iron ore surges ahead of blackout period – The Australian Financial Review
Iron ore rallied on the final day of trading for the quarter as investors locked in prices ahead of the week-long blackout period because of China’s Golden Week…
Spot prices had been weak in the days leading up to the national holiday, with the traditional restocking demand failing to materialise, in part because of sintering and iron ore transport restrictions around the city of Tangshan, one of China’s key industrial hubs.
Wednesday’s Chinese economic data also pointed to strong momentum in the economy, with activity firming even outside the non-manufacturing sector.
The manufacturing PMI for September beat expectations, expanding to 51.5, although s…
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