16:35 - 25.07.2022

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July 25, Fineko/abc.az. Iron ore prices have risen more than 7% in two days on the back of news that China's housing construction sector will be supported.

ABC.AZ reports that China's State Council announced funds last week for 12 companies under pressure.

50 bn yuan ($7.4 bn) has been received from the China Development Bank, and this figure is reported to be able to reach 300 bn yuan. The government intends to restore the confidence of home buyers and resume home purchases.

Futures in Singapore rose 4% today to $107.95 per ton. Iron ore has fallen 35% since peaking in March.