The price of a ton of iron is over 107 dollars on the way to the longest profits since January

The price of iron ore for the sixth session has risen, on the way to the highest closure in more than six months, amid the expectation that the Chinese claim will gain momentum. The crude futures used for a short period in the steel industry exceeded the level of $ 107 a tonne, which is the highest daily level since the end of February, when prices jumped to the closure of major mines in Australia, before it dropped a bit of these levels. Iron ore is also aimed at taking up the longest profits since January. Citic Securities analysts wrote in a memo: “The demand for steel consumption industries was remarkably restored after the military parade, which strengthened the need for storage during the high season and supported the sector’s prices.” They added that the market also received support from the hope of lowering the US Federal Reserve for interest rates. Also read: The price of iron ore is rising, supported by the hope of restoring the demand in China. Earlier this month, China arranged a military parade of each contract to reveal new weapons and revise the growing diplomatic influence of Beijing, in collaboration with the commemoration of Japan’s defeat in World War II. During the event, some steel factories in the north of the country were asked to lower the production to lower pollution levels. Investments needed from “Rio Tinto” also received prizes in support of reports that the “Rio Tinto” group was subjected under pressure from the Guinea government to invest in the steel industry near its giant iron ore mine. The Australian financial review reported that this step reflects the possibility that the government’s move against companies focusing mainly on the export of raw materials. In ‘Ne -mail, a’ Rio Tinto ‘spokeswoman said:’ We are holding with our industrial and government partners in a feasibility study to create the Iron Kiryat factory, which will enable us to judge the feasibility and jointly available options. Our attention is currently focused on the delivery of the Siemano mine. ‘ Future iron contracts jump 1.5% to sign $ 107 a tonne at 11:35 p.m. The future contracts denominated in Dalian have reached its highest level since July, and future steel contracts in Shanghai have also increased. In the basic metal market, copper rose 0.2% to $ 9930 a tonne on the London Metal Stock Exchange. Aluminum increased by 0.1% after the largest increase in two weeks after the demand for stock exchanges increased.