Iron ore price extends gains on China stimulus hopes
A highly anticipated third plenum that started from Monday will outline efforts to promote advanced manufacturing.
China’s top five utilities have formally protested a government proposal to ban imports of low-grade coal that could jack up their costs, a move that could derail domestic miners’ efforts to boost demand for their coal.
The big utilities have only just begun to see their thermal power businesses turn profitable after haemorrhaging billions over the past five years due to soaring coal prices.