Iron ore compensates some of its losses while rebuilding the supplies of China factories

The price of iron ore recorded a slight rise with the Chinese steel factories that built their supplies in preparation for the resumption of activity in spring. The future contracts for iron ore in Singapore rose 1.2% on Thursday, after falling earlier this month, as producers reduce operations outside the season during the winter. According to the data of the Chinese Iron and Steel Association, the production of important factories decreased to the lowest level in about three months. While the price of iron ore has dropped about 30% this year, although this is very due to pessimism about China’s demand and the poor construction sector there. The morale of market participants is still fragile, despite the promises of the government to do more to support the economy. Prices rose 0.9% at 10:48 am in 101.35 dollars at 10:48 am. On the Shanghai Future Contracts Stock Exchange, the price of zinc increased by 0.4%, on the way to achieving profits for the fourth day, and the price of buyer also rose. The London Metal Exchange closes its doors for the second day, which coincides with two official holidays. The price of gold in immediate transactions increased by 0.4%to reduce the losses it incurred during the current month.