Iron Ore Gains for Second Day, Shrugging Off Bearish China Data
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Iron ore futures ticked up for a second day, even as data signaled weaknessBloomberg Terminal in China’s steel demand.Consumption in the top market continues to be weighed down by sluggish construction activity, Commonwealth Bank of Australia analyst Vivek Dhar wrote in a note on Wednesday. New property starts — which account for about a third of steel demand — fell roughly 21% in the first 11 months of the year. Infrastructure spending, another key pillar of demand, edged down month-on-month in November, he added.