NGLOY - Iron ore miners on the rise as China's central bank sends easing signals

Global iron ore miners enjoy strong gains, with iron ore prices rising after announcements in China ranging from potential economic easing measures to expectations of more support for the property sector. Vale (VALE +6.8%) rises as much as 8.5% - the most intraday since May 2020, according to Bloomberg data - while BHP (BHP +3.6%) and Rio Tinto (RIO +2.4%) also sport gains. Other relevant tickers include OTCQX:FSUMF, OTCQX:AAUKF, OTCQX:NGLOY, OTCPK:GLCNF, OTCPK:GLNCY Benchmark 62% Fe fines (SCO:COM, TIOC:COM) imported into northern China +4.3% to $95.63/metric ton. "In the short term, the property-related policy is expected to see improvement, which could probably lift market sentiment," Galaxy Futures writes, according to Mining.com. Concerns about debt problems among Chinese property developers, who accounts for 25% of the domestic steel demand, have added to pressure on prices of iron ore and steel. Vale, BHP and Rio all touched 52-week lows last week as iron

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Iron ore miners on the rise as China's central bank sends easing signals