Os future contracts do iron ore in the bag of Dalian They rose on Monday (30) and closed June with the first increase in a monthly base in four months, amid firm short-term demand in China.
A prolonged real estate crisis in China, however, kept gains under control.
The most negotiated Iron Ore of the most negotiated Iron Ore on the Dalian Goods Stock Exchange (DCE) of China ended the day’s 0.21%up negotiations at 715.5 Iuanes (US $ 99.88) the ton. The contract won 2.06% in June.
The reference iron ore for July on the Singapore Stock Exchange lost 0.16% to US $ 94.4 a ton, falling 1.3% this month.
Gesa iron production, an indicator of the demand for iron ore, remained firm at about 2.42 million tons on June 27, according to data from Mysteel consultancy.
Meanwhile, the average rate of capacity of ups ability of high foals increased by 0.04 percentage point, reaching 90.83% from June 20 to 26, Mysteel said.
Non -manufacturing PMI data, which include services and construction, showed growth from 50.3 to 50.5.
However, industrial activity in China shrunk for the third consecutive month in June, although at a slower pace.
The poor domestic demand, along with a prolonged real estate crisis, has left the owners of factories with stops stopped while waiting to see if Beijing can alleviate commercial tensions with the US and the European Union, analysts said.
The US dollar weakened, as investors preceded possible interest rates after Federal Reserve President Jerome Powell signaled in a statement that the cuts would be likely if inflation remained under control despite tariffs.
Meanwhile, reports that President Donald Trump had resigned from Powell further increased the pressure.
A weaker dollar makes assets called dollar cheaper for holders of other currencies.
