RE: Iron ore futures22 Feb 2023 10:05
Older, it's true that the price of iron ore that matters is the one when UFO starts mining . . . but between now and then there are partnerships to be signed and investor interest to be stirred up: a rising iron ore price will help with those.
Looking longer term, Rio Tinto announced a sharp drop in profit last year due to China's Covid lockdowns, but Reuters today reports their chief exec giving a bright picture of the future: "It is very positive that China now also comes out of COVID lockdowns ... and we are quietly confident that (China's) demand will be a stabilising factor for the world economy in 2023," Chief Executive Jakob Stausholm told reporters.
China, the world's second-biggest economy, in January re-opened its borders and eased quarantine requirements for travellers after three years of tight controls, and is putting in place policies to boost its sagging economy.