Iron ore rises on pre-holiday restocking, China stimulus hopes
"Winter restocking of iron ore among steel mills is still underway, so we believe ore prices will find some support in the near term," analyst says.
BEIJING, Nov 16 (Reuters) – China’s zinc and copper output in October jumped to its highest in almost three years, according to the National Bureau of Statistics data on Thursday.
Zinc production rose 3.8 percent to 577,000 tonnes year-on-year, while copper was up 6.3 percent at 781,000 tonnes, the data showed. They are the highest levels on the bureau’s records going back to November 2014.
Lead output was down 1.4 percent at 416,000 tonnes and iron ore output rose 3.9 percent to 120.1 million tonnes.
(Reporting by Josephine Mason and Beijing news monitoring; Editing by Sherry Jacob-Phillips).
