Iron ore price surges to 8-month high on renewed optimism around China’s reopening

Both London and Shanghai copper benchmarks have gained more than 20% this year so far.

China's benchmark iron ore futures headed to their first annual decline in three.

“The merged company will increase the control over prices in the international market place and could lead to even higher prices in the coming year.”

The latest output cuts come soon after curbs at Europe’s top smelter, highlighting supply risk into next year and beyond.

China’s economy expanded at a moderate pace in the final month of the year, supported by better business sentiment, easing factory inflation pressures and faster car sales.

A five-year plan adds some details on Beijing’s drive to reshape heavy industries.

Chinese battery materials producer said it would buy over a five-year period as part of a broad strategic cooperation agreement.

Iron ore had one of its wildest years in 2021.

Qulong copper mine in Tibet adds a new source of supply to the market for next year.