The shares of steelmakers miners gain momentum this Tuesday (7) with the soaring of futures contracts in the iron ore and China.
A CSN Mining (CMIN3) leads the sector’s highs. Around 2:45 pm, the company’s shares soared 6.71%, traded at R$ 6.68.
Its parent, the CSN (CSNA3), rose 3.03%, to R$ 24.86.
the giant Vale (VALE3) valued at 2.84%, quoted at R$ 77.92.
Usiminas (USIM5) rose 2.37%, to R$ 15.13, while Gerdau (GGBR4) showed an increase of 2.84%, to R$ 29.31.
O Ibovespa jumped 1.18%, to 108,115.24 points.
The most traded May iron ore on the Dalian Commodities Exchange appreciated strongly by 6.7%, at 659.50 yuan a ton. It reached an appreciation of 9%, to 673.50 yuan, the highest level since the end of October.
The most active January contract for the steel ingredient on the Singapore Stock Exchange soared by 9.7% to $114.15 a tonne.
XP designs for 2022 a more balanced scenario of commodity prices. For iron ore, analysts expect it to remain at current levels amid stable steel demand in China compared to 2021.
“We don’t expect new major stimulus plans from the government as in the past,” commented André Vidal and Thales Carmo, who signed the updated report last Thursday (2).
In XP’s opinion, China’s iron ore purchases should start to normalize after the Winter Olympics.
Source From: Moneytimes
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