-- Iron ore dropped for the fifth time in six days ahead of data this week that’ll shed light on Chinese steel output, as mills in the biggest market battle slumping product prices and challenged domestic demand.In DNC, Chicago’s Embattled Transit System Faces a High-Profile Test
“Steel production is clearly set to slow, particularly at smaller, less-efficient steel mills,” said Robert Rennie, head of commodity and carbon strategy at Westpac Banking Corp. “We should get a hint of this in Thursday’s data.” Among signs of ample supplies, port holdings of iron ore in China have ballooned this year, expanding to within about 10 million tons of the peak set in 2018. China Mineral Resources Group, the state-owned company formed to manage imports of the raw material, said the increase had been driven by “distorted and unsustainable” speculative purchases, according to a statement.Futures fell 0.5% to $98.85 a ton at 2:40 p.m., as yuan-priced futures in Dalian turned lower after an initial rise.
Valencia goalkeeper Giorgi Mamardashvili has rejected interest from Saudi Arabia this summer to hold out for a move to a ‘big club’, and it looks as if he may get his way, despite not many top num...Former President Donald Trump and Vice President Kamala Harris agree on one thing, at least: Both say they want to eliminate federal taxes on workers’ tips.Baron Funds, an investment management company, released its “Baron FinTech Fund” second quarter 2024 investor letter.
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