Ore with 62% content in Qingdao jumped 7.2% to $73.70 a tonne, according to the Metal Bulletin, the highest price since April 11 and the largest one-day percentage gain since December 1, 2016.
The Anglo–Swiss multinational announced that it signed agreements with Yancoal Australia regarding the acquisition of a 49 per cent interest in Rio Tinto’s former coal assets in Australia's Hunter Valley
As steel production reaches all-time high Chinese miners pump out most iron ore since 2015 while refined copper output jumps 12% to highest in 18 months.
The United States and China failed on Wednesday to agree on major new steps to reduce the U.S. trade deficit with China, casting doubt over President Donald Trump's economic and security relations with Beijing.
Sources with knowledge of the matter told Reuters on Tuesday that China was considering a merger between the two major metals and mining firms as Beijing pushed to consolidate its bloated state-run enterprises to help increase efficiency and competitiveness.