BAFL 45.26 Increased By ▲ 0.21 (0.47%)
BIPL 20.08 Decreased By ▼ -0.43 (-2.1%)
BOP 5.42 Decreased By ▼ -0.22 (-3.9%)
CNERGY 4.54 Decreased By ▼ -0.01 (-0.22%)
DFML 15.65 Decreased By ▼ -0.05 (-0.32%)
DGKC 73.20 Increased By ▲ 1.99 (2.79%)
FABL 27.33 Decreased By ▼ -0.07 (-0.26%)
FCCL 17.54 Increased By ▲ 0.39 (2.27%)
FFL 9.05 Increased By ▲ 0.50 (5.85%)
GGL 12.60 Decreased By ▼ -0.07 (-0.55%)
HBL 111.67 Decreased By ▼ -1.03 (-0.91%)
HUBC 122.28 Increased By ▲ 3.17 (2.66%)
HUMNL 7.24 Decreased By ▼ -0.36 (-4.74%)
KEL 3.26 Decreased By ▼ -0.01 (-0.31%)
LOTCHEM 27.70 Decreased By ▼ -0.15 (-0.54%)
MLCF 39.55 Increased By ▲ 0.47 (1.2%)
OGDC 108.80 Increased By ▲ 0.49 (0.45%)
PAEL 17.74 Decreased By ▼ -0.01 (-0.06%)
PIBTL 5.40 Decreased By ▼ -0.16 (-2.88%)
PIOC 107.40 Increased By ▲ 1.40 (1.32%)
PPL 91.77 Decreased By ▼ -0.73 (-0.79%)
PRL 24.95 Decreased By ▼ -0.39 (-1.54%)
SILK 1.06 Decreased By ▼ -0.01 (-0.93%)
SNGP 63.04 Decreased By ▼ -0.68 (-1.07%)
SSGC 11.89 Decreased By ▼ -0.11 (-0.92%)
TELE 8.15 Decreased By ▼ -0.31 (-3.66%)
TPLP 13.16 Decreased By ▼ -0.18 (-1.35%)
TRG 81.38 Decreased By ▼ -4.02 (-4.71%)
UNITY 25.85 Decreased By ▼ -0.11 (-0.42%)
WTL 1.51 Decreased By ▼ -0.03 (-1.95%)
BR100 6,181 Decreased By -4.8 (-0.08%)
BR30 21,539 Increased By 79.8 (0.37%)
KSE100 60,531 Increased By 29.3 (0.05%)
KSE30 20,188 Increased By 13 (0.06%)

BEIJING: Chinese iron ore futures jumped 3% on Friday, rising for the second straight session and tracking fourth weekly gains from supply shortage at mills because of COVID-related disruptions.

Producers in the top steelmaking city of Tangshan are set to cut or suspend output as their raw material stocks can only feed production for several days while transportation remained constraint due to a temporary lockdown.

Average daily output of around 36,100 tonnes molten iron had been affected in Tangshan as of March 24, data compiled by Mysteel consultancy showed, amid blast furnaces maintenance because of supply crunch.

Coking coal and coke inventories at mills and coking plants surveyed by the consultancy fell 1.6% and 4.9%, respectively, this week from a week earlier.

The most-traded iron ore futures on the Dalian Commodity Exchange, for May delivery, gained as much as 3% to 851 yuan ($133.78) a tonne.

Comments

Comments are closed.

Benchmark iron ore jumps

COP28 opens with ‘historic’ launch of loss and damage fund

Blinken says truce between Israel-Hamas is producing results

Long wait for freedom: Afghan refugees in limbo in Pakistan

Inter-bank: rupee registered 3rd successive gain against US dollar

Open market: rupee strengthens against US dollar

Pakistan’s central bank reserves increase $77mn, now stand at $7.26bn

PM Kakar calls for utilizing Loss & Damage Fund on merit

Oil prices fall amid skepticism on OPEC+ supply cuts

Pakistan cannot develop without development of Balochistan: Zardari

KSE-100 stays flat amid profit-taking