The increase in industrial mineral prices to Powell's tip to reduce interest

The prices of industrial minerals and iron ore have risen after the speech of the president of the Federal Reserve Jerome Powell in Jackson Hall, during which the central bank was proposed to lower interest rates next month. Traders increased their bets on a 25 -point -reduction in September, after Powell hinted that the bank would start lowering the borrowing costs before improving the most important economic data. Usually, facilitated monetary policy weakens the US dollar, which makes basic commodities cheaper in other currencies, and supports the demand for industrial minerals. Request concerns in China The prices of the prices of the most important industrial minerals this year have been limited by the fear of the decline in demand in China, the largest consumer in the world, while investors are an indication of a remarkable slowdown in the Asian giant economy, in addition to the performance of the US economy in the light of the impact of customs. The buyer on the Shanghai Stock Exchange increased by 0.6% to 79.210 Yuan per ton, while the gaze rose by 1.2% at 10:02 hours, and the rest of the minerals on the same exchange recorded profits. As for the London Stock Exchange, it was closed on Monday due to the US summer holidays. At the same time, iron crude futures on the Stock Exchange in Singapore increased by 1.7% to record $ 102.25 per tonne, and contracts in Dalian and future steel contracts on the Shanghai scholarship ascended.