Iron ore price slips after China reiterates steel output control

Iron ore fundamentals have improved and the valuation of the ferrous market is expected to rise, analysts at Galaxy Futures said in a note.

Demand for the fuel has been hit by a slowdown in the cement industry.

The statement came after iron ore futures prices rose by more than 3% in day trading.

South32 said on Monday it would take about a year to restart manganese ore exports from Australia.

Premiums paid on imported refined copper extended a months-long decline to reach zero for the first time in Shanghai going back to 2017.

Vitol, Gunvor and Mercuria Energy are among the traders building out their metals teams, as they look to deploy capital generated by record profits.

OceanaGold plans to sell up to 456 million common shares or a 20% stake in OceanaGold Philippines.

The Chinese gold miner last week increased its offer to A$0.68 per share from A$0.58.

Several prominent figures in the global gold market are coming to the conclusion that the major new driving force is a legion of fleet-footed retail investors on the Shanghai Futures Exchange.