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China’s steel sector steadies, as investors hope for post-pandemic stimulus boom

Scmp - Discussions about steady iron ore prices and the value of mega miners BHP, Rio Tinto and Fortescue Metal Group have been simmering on the popular Australian stock market trading forum HotCopper in recent weeks.

The price of iron ore has been hovering around US$80 a tonne, which while lower than its five-year high of around US$120 a tonne last year, was still better than the ravaged crude oil price, as Chinese steel producers roared back into action.

Some investors were particularly thrilled at the early signs of a recovery in iron ore and steel demand with possibly more to come down the track, should China announce a significant stimulus package.

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