Iron ore price drifts higher as soft China data triggers stimulus hopes

BYD said in July it would invest 3 billion reais ($600 million) in a new industrial complex in northeastern Brazil.

At least 10 people have died and six are missing after a coal mine accident in the city of Pingdingshan, in central China.

Preliminary investigation showed the accident occurred due to a coal and gas outburst at the mine.

The world's largest iron ore consumer brought in a total of about 1.18 billion metric tons in the past year.

The world's largest producer of rare earths shipped 52,307 metric tons of the minerals abroad last year.

The scramble to secure supply has meant Chinese smelters have had to accept a cut in treatment charges.

Solaris intends to use the funds to advance its flagship Warintza copper project in southeast Ecuador.

The benchmark February iron ore on the Singapore Exchange climbed nearly 1%.

The company's report, the second since 2020, reveals that rubies are gaining steam among Chinese consumers.