Iron Ore Powers to Best Week in Two Years as Sentiment Switches
- Commodity’s revival has boosted shares of miners including BHP
- Rebound comes as some banks upgrade their outlooks for growth
An autonomous haul truck dumps a load of rock in the mine pit at Rio Tinto Group's Gudai-Darri iron ore mine in the Pilbara region of Western Australia.
Photographer: Carla Gottgens/BloombergThis article is for subscribers only.
Iron ore headed for its best week in two years on speculation that China’s economy may be on the mend, buoying the outlook for demand.
Futures in Singapore — which touched as much as $111 a ton on Friday — are up neqrly 13% this week, the best showing since March 2022. Banks including Goldman Sachs Group Inc. have been upgrading their outlooks for China’s growth this year after factory activity and exports accelerate more than expected.