Beijing: Iron ore slumped more than 7% – dropping below the $110 a ton mark – as disappointing demand in China left the market lumbered with bulging inventories. The steelmaking material has tumbled by around a quarter from a peak in early January as China’s real estate and manufacturing activity remained under pressure. The annual … Read more
HYDERABAD: State-run iron ore miner NMDC Ltd on Wednesday said it has clocked a 68% jump in profit after tax (PAT) for the third quarter ended December 31, 2023, at Rs 1,492 crore as compared to Rs 890 crore in Q3 of FY23.This was on 45% rise in turnover to Rs 5,410 crore in Q3FY24 … Read more
BEIJING: Iron ore futures extended gains for a second session on Tuesday, as sentiment was boosted by Beijing’s latest support to the property sector and lingering concerns over possible supply disruptions. The most-traded January iron ore on China’s Dalian Commodity Exchange (DCE) added 2.6% to 985 yuan ($136.59) a metric ton, as of 0238 GMT. … Read more