The Zhitong Finance App learned that Ronghui International (00990) rose by more than 6% and rose 6.25% at press time to report HK$0.51, with a turnover of HK$2.18 million.

According to the news, on December 5, according to the China Iron and Steel Association, China's iron ore production increased in October 2023 compared to the same period last month. In October, the country's iron ore raw ore production was 86.445 million tons, up 2.5% month-on-month and 29.8% year-on-year. It is worth noting that on December 26, iron ore prices rose to their highest level since June 2022, indicating that Asia's efforts to contain the decline in the real estate market in recent months may be paying off.

ANZ strategists previously raised their iron ore price forecasts. The strategist said that if demand does not fall as expected in the end, it seems likely that the current round of iron ore gains will easily reverse. However, in a tight market situation, there seems to be limited room for the downside. As a result, we raised our short-term target to $110/ton and raised our 2024 price forecast, and now it is unlikely that the price will fall below $100 per ton.